Keeping the slowdown induced by the coronavirus pandemic in mind, this might be one of the best times if you’re planning to make a property investment in Chennai. Due to liquidity constraints, builders are trying to sell flats quickly. This is why it is a good time to negotiate a deal and turn the tables in your favor. Your best option would be second hand flats for sale in Chennai.
Before you choose a locality, let me show you the historical price trends in different areas as well as the returns on the investment. The higher the rental yields and capital appreciation, the more are the returns from your property investment.
| Locality | Average monthly rental values (in per sq ft) | Rental yield YoY | Average capital values (in per sq ft) | Capital appreciation QoQ |
Korattur |
Rs. 18 |
3.30 % |
Rs. 6500 |
3 % |
Urapakkam |
Rs. 11 |
3.19 % |
Rs. 3950 |
3 % |
Choolaimedu |
Rs. 20 |
3.16 % |
Rs. 7400 |
3 % |
Pallavaram |
Rs. 15 |
3.03 % |
Rs. 5950 |
3 % |
Valasaravakkam |
Rs. 16 |
2.65 % |
Rs. 7250 |
3 % |
Top 5 Localities for Properties on Rent in Chennai
The properties in the areas given below are popular for rental accommodations as they are closer to industries and have the availability of entertainment, transportation, etc.
| Locality | Average Monthly rent (Rs.) (Approximately) |
Velachery |
Rs. 16,300 |
Madipakkam |
Rs. 13,500 |
Medavakkam |
Rs. 13,500 |
Porur |
Rs. 16,100 |
Ambattur |
Rs. 10,900 |
If you are not interested in paying brokerage while buying a property, then I suggest you can check out low budget resale flats in Chennai for investment on NoBroker.
Check out Popular Properties under Rs. 1 crore in Chennai on NoBroker
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Authors Of The Question
Where can I buy a resale apartment in Chennai for Rs.1 cr. as an investment
Seshadri
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1 Answers
3 Year
2021-10-05T13:21:17+00:00 2021-10-07T18:44:25+00:00Comment
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