Here Is Why You Should Buy A Property In Chennai

Buy sell Property & Real Estate Investment Guide

Buying Property Tips#1: Choose the Right Location
Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.
Buying Property Tips#2: Study the Local Market Dynamics
It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.

Several infrastructural developments, efficient civic bodies and upcoming Chennai Metro are some of the reasons responsible towards a blooming market of Chennai. Some of the infrastructural developments that are already in the under construction zone are:

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  • Chennai Metro Rail
  • Underground drainage
  • Chennai Mass Rapid Transit System
  • Bus terminus
  • Sub-urban rail network
  • Interlinking of CMRL
  • One of the reasons that also pulls investors and buyers towards Chennai is that property market in other metros is priced high and mostly stagnant. Chennai has the maximum potential today. Also, presence of a large number of IT firms in the city derives demand from the working crowd.

    South Chennai has a stable real estate scenario with most of the developments already taken place. On the other hand, Chennai North is an upcoming locality with most of the developers investing here. Some of the developments taking place in North Chennai are:

    MS Royale Gate

    MS Royale Gate is a residential project developed by MS Foundation and offers well designed 2BHK and 3BHK villas that are spread over 10 acres of land and are a total of 398 villas. Strategically located at Thirunindravur, the project has a number of civic amenities in the neighbourhood. Some of the location advantages that MS Royale has includes:

    Buying Property Tips#3: Choose the Right Property
    Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.
    Buying Property Tips#4: Do the Math Properly
    Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.
    Buying Property Tips#5: Consider Additional Expenses
    When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.
    • 3 km from Thiruninravur Railway Station
    • Proximity to a number of schools and colleges
    • Renowned hospitals in the vicinity
    • Market Super markets, Departmental stores and other shopping destinations are all within 3 km
    • Banks and ATMs

    It is a fully compounded project with every basic need inside the campus of the project. The project is loaded with a handful of amenities that meets the needs of the residents. Open space, paved compounds, power back up, play area for children, car parking, rain water harvesting, yoga and jogging facilities, indoor and outdoor games facilities. It also offers ample space for care parking that adds to the benefits of the villas.

    VGN Royale

    VGN Royale is being constructed by one of the renowned developers of Chennai, VGN Developers and is situated in Avadi. The project id spread over a total area of 9.23 acres and offers 1BHK and 2BHK apartments. VGN Royale has a total number of 1290 apartments and is well-equipped with all the amenities that meets the needs of a buyer. The project offers amenities like a club house with all the facilities, swimming pool, play area of toddlers, gymnasium and facilities like 24×7 security system and power back up. The project has a beneficial location as it is just 2km away from Avadi station and is close to Ambattur industrial Estate and Sriperumbudur Industrial Corrido.

    In the End

    After witnessing a sluggish market for a couple of years, Chennai market has picked up and now is in a flourishing state. Development of several infrastructural projects and interest of the builders in the areas make this market feasible for the buyers. Another factor that has given a positive impact to the city's realty market is the emergence of IT sector. This has created huge impact on residential as well as rental markets of Chennai.

    Buying Property Tips#6: Inspect the Property
    To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.
    Buying Property Tips#7: Pick the Right Financing Option
    While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.
    Buying Property Tips#8: Invest through Equity
    One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.
    Updated: December 7, 2017 — 4:49 am
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