Are you thinking of purchasing a plot You are making the right decision.
There is a growing interest in spacious open plots that provide the freedom to design homes according to personal preferences. These plots are situated in well-equipped communities and desirable locations, making them an attractive option for contemporary living.
If you are considering investing in real estate plots in Chennai, then it is important to take some time to look at the benefits of buying and then make an informed decision based on your finances, requirements, and obligations.
Flexibility in construction – You have your own space with a plot and can build your home how you want. Contrary to an apartment, where the floor plan is already done, with a plot, you can customize your home from the very beginning, and you also have the freedom to alter the layout if required. Even if one cannot build a house immediately, one always has a choice of building it later.
Better ROI – Plots always have a greater resale value than apartments. Also, since plots and individual homes are not available very often, the appreciation value is higher, thus giving greater ROI. Even if the budget to construct a house is a limitation, one can always choose to construct it later.
Distance from the hustle and bustle – The city is becoming extremely congested with less space available for individual houses. Even if they are, priced at exorbitant rates. With affordable plots available on the outskirts, more people are moving there. In addition to this, they also get to escape the traffic, noise, and poor air quality, many have chosen the outskirts to build their home.
Independence – People who love their privacy can go for plots. Unlike apartments, which share land space with others, your land is yours and you are the only owner. Plots are often found in parts of larger communities which are gated. So those who purchase plots do not entirely miss out on having neighbours. They just have the luxury of privacy while living in a close-knit community.
Growing IT hubs on the outskirts with hospitals, and schools are also mushrooming – Large industries, IT hubs, and factories prefer to set up their units and offices on the outskirts of the city. The offices have also attracted employees to live close to their workplace. And this makes areas around these offices prime property to purchase.
Why is Chennai the Real Estate Haven
As the fifth largest city in the country, Chennai is home to ideas, innovation, and unparalleled growth. Touted as the gateway to southern India, Chennai is the epicentre for multiple job opportunities and educational possibilities.
For realtors, Chennai is synonymous with growth and development. And, since it is still growing and developing, it is the perfect place to buy land in and around before the land prices grow out of proportion.
Constantly booming real estate market – Demand for land in the city has been increasing because of the boom in population, robust economy, fast-paced construction, and growing manufacturing units and IT Hubs in the outskirts.
World-class amenities – Chennai’s top-of-the-line infrastructure and amenities attract investors from across the country and the world. From clean and green roads and highways to schools, colleges, and hospitals, Chennai is on par with international standards.
Excellent connectivity – Known as the gateway to the South, Chennai’s roadways have been getting a facelift. The city’s game-changing transportation and telecommunication infrastructure has attracted a lot of investors.
High Resale Value – Land in and around the city is constantly in demand. With the exponential growth of trade and commerce sectors, it is only natural for real estate to grow as well. Purchasing land is affordable compared to other metro cities and simpler. With massive growth and robust investments across all sectors, the land value will only appreciate, and it is time to grab those land before they are gone.
Some of the best areas to invest in Chennai are Old Mahabalipuram Road, East Coast Road, Outer Ring Road, Porur, Thirumazhisai, Manapakkam.