Exploring booming areas in Chennai for the best real estate investments in 2023

Chennai, a city where tradition meets modernity, has become a hotspot for real estate investment. With its strategic location, burgeoning tech sector, and robust infrastructure development, the real estate market in Chennai is witnessing a significant upswing. In this article, we explore the booming areas in Chennai and highlight the best real estate investment opportunities in 2023.

Real estate in Chennai: A growing trend

Chennai's real estate is evolving, driven by industrialisation and infrastructure development. The surge in job opportunities has increased demand for residential properties, with apartments and plotted developments being popular choices. Key localities like Oragadam and Velachery are expected to witness increased real estate activity due to their strategic locations and improving infrastructure. The city's connectivity via road, metro, and air, coupled with essential amenities in proximity, makes it an attractive investment destination.

Benefits of investing in Chennai

  • Growing demand for rental properties due to industrial growth.
  • Improved infrastructure, including the Chennai-Bangalore Highway, enhances overall desirability.
  • Potential for property value appreciation fueled by industrial expansion.

Living standard and social infrastructure in Chennai

Chennai offers a fulfilling lifestyle with recreational centres like Marina Beach and Queensland Amusement Park. Residents, especially those in Godrej Properties' projects, enjoy a vibrant community spirit fostered through cultural events and festivals.

Chennai's social infrastructure highlights

  • Hospitals: Apollo, Fortis, MIOT International, and more.
  • Schools: Velammal Vidyalaya, PSBB Millennium School, DAV Senior Secondary School, and others.
  • Recreational Centres: Guindy National Park, Semmozhi Poonga, MGM Dizzee World, and more.

Exploring the best real estate investment in Chennai

  • Choolaimedu: Proximity to educational institutions and tech parks, with property prices at Rs. 7,300 per sq. ft.
  • Velachery: Well-developed residential area with robust social amenities, monthly rentals at Rs. 19,000, and property prices at Rs. 8,100 per sq. ft.
  • Oragadam: An automobile industrial hub with global companies offering apartments, plots, and independent housing at an average price of Rs. 4,500 per sq. ft.
  • Medavakkam: Affordability and proximity to critical roads, with an average property price of Rs. 5,100 per sq. ft.
  • Old Mahabalipuram Road (OMR): A sought-after residential area with property prices around Rs. 5,200 per sq. ft., featuring Godrej Azure with stunning sea views.

Godrej Projects in Chennai: Setting the standard

Chennai's investment climate is favourable, with Godrej Properties leading the way. Oragadam, Padur, and Chembarambakkam projects offer holistic living, connectivity, and modern facilities. Investing in these prime areas with Godrej Properties ensures a potential avenue for growth and returns in the real estate market.

The conclusion

Real estate investment in Chennai is a canvas of opportunities for 2023. With strategic acquisitions and promising localities, homebuyers and investors can witness their property values surge in this dynamic city.

Frequently Asked Questions

Q: Why is Chennai considered a hotspot for real estate investment?

A: Chennai's strategic location, growing tech sector, and robust infrastructure development make it an attractive destination for real estate investment.

Q: What key factors contribute to Chennai's real estate growth in 2023?

A: Factors include industrial expansion, improved infrastructure, and the city's overall desirability, driving demand for residential properties.

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