Is Buying Apartment a Good Investment in Chennai?

Hello Jia, I can help you understand is it good to buy apartment in Chennai or not. Firstly, it would be best if you consider the investment in terms of whether you are an investor or someone new to checking out real estate. I will share some aspects which will help you decide on whether it is worth it to put your money in Chennai.

Is It Worth to Buy Apartment in Chennai?

Being a real estate investor for years, I feel Chennai has a lot of potential. Having a property here is a good decision. I will back up my statement with the following points;

1. The property market of Chenani has seen an upward curve in terms of long-term appreciation rate. The previous data presents a gradual increase in property rates. With infrastructural development, expansion and a lot more in the mix, you can expect an increased demand for residential properties. The year-on-year growth in Chennai is an impressive 9.31 per cent.

2. The rental income is another factor which makes Chennai favourable. Popular localities will reap you good rental yield. The migrant population is a big base and if you decide to rent out your place, the chances of a stable rental income are always there.

3. Chennai is known for its good quality of life. With a house in the right locality, you can observe an upliftment in the way you live your life. 

This is all I have to say. I hope this helps.

Investing in real estate is going to be the best investment I guess. Banks cannot be relied on much since their interest rate is dropping day by day so I will suggest you invest in properties. I have been living in Chennai for almost a decade so I am quite aware of the market value of the properties here. I was having the doubt- is buying apartment a good investment in Chennai so I consulted with a lot of people before investing in a property early this year. Almost every one of them suggested to me that it is going to be a good idea. So let me share where I invested and from where I got property details.

Is it a good idea to buy an apartment in Chennai?

Buying an apartment in Chennai is a great idea but you have to consider some aspects like

• Where is the property located

• What amenities can the property provide

• How old the property is

• Type of the property

• Style, the design or architecture of the property and more

These factors will determine the resale value of the property so always consider these factors.

Some of the places where you can invest in Chennai are-

• OMR (Old Mahabalipuram Road)-

You will get several ready to move into properties in this area so investing here will be a good decision to make. There are several IT hubs and companies located in this area as well so the demand to have a property here is also very high. The average price for a 2BHK flat is OMR is Rs. 3,028,571.40.

• Velachery and Medavakkam-

If you are planning to give your property on rent, buying a property in Velachery and Medavakkam will be good. This area lies close to Phase I and Phase II of OMR, the hub of IT sectors so the market value of the properties here is never going to fall. The average property price in Velachery for a 2BHK configuration is Rs. 6,162,555.10 while a 2BHK in Medavakkam cost around Rs. 5,189,162.40 on average.

• Guduvancheri-

In Guduvancheri you will find affordable properties easily. It is located 24 km from

Medavakkam and is highly preferred by people to live with their families. You can invest here now and be sure that after a decade or even a few years, you will get a good return. The average price of a 2 BHK property in Guduvancheri is Rs. 4,048,417.30.

You can use several apps to check the property rates of different areas like

• NoBroker

• 99Acres

• Square Yards and more

I hope this answers your query: is buying apartment a good investment in Chennai.