Pay Rs 1 cr for a Rs 60 lakh property in Chennai Anna nagar

Now pay Rs 1 cr for a Rs 60 lakh property
Are you looking for an investment arena in Chennai that can get you maximum returns? Magicbricks has noticed that since the last one year, that is, since Jan-March 2013, Anna Nagar has shot up in terms of prices, almost 68 per cent. Capital values that stood at Rs 6175 per sq ft have now soared to Rs 10, 400 per sq ft on an average.

What determines Anna Nagar’s popularity?
Anna Nagar stands tall in terms of socio-civic fabric. Talk about police stations and vigilance, street lights, schools and colleges of repute, healthcare facilities and commercial pockets—all of these factors have contributed immensely to property values boosting over the years.

Sewage and drainage-related issues are also looked into and thus a majority of new properties and resale ones ensure that buyers would not have to tackle such issues. Some of the established residential pockets like Shanthi Colony, Nalanda Flats, Kurinji Colony and Jawahar Colony are most preferred here.

Interestingly, the layout of the roads, matrix-structured, straight and parallel to each other ensures easy accessibility to other areas in the city. Alice Vincent, a user of Magicbricks says, “It is a posh locality with all the amenities close by. The roads in Anna Nagar are designed on the basis of matrix structure similar to roads in the developed countries of the west. All the roads are parallel and perpendicular to each other.”

“In addition, a standardised naming nomenclature is adopted. All the streets are interconnected to these avenues. Anna Nagar is the first township and the only township in Chennai to follow standard addressing system followed in the western world,” adds Vincent.

As for physical infrastructure, buses, autos and taxis frequent Anna Nagar and local transport is smooth. Two of the major terminals include the one at Anna Nagar East and the other at Anna Nagar West. The latter is situated on the 100-ft wide road which is the biggest terminus in Chennai.

If you are a resident in Anna Nagar, you are about 16 km away from the Chennai International Airport and 10 km away from the Central railway station.

Property options
If you are looking for a 1BHK unit, prices start at Rs 23 lakh that fetches you a 215 sq ft in the locality. 2BHK units are in the range of Rs 40-1.6 crore with sizes anywhere between 640-1555 sq ft. Bigger units like a 3BHK unit with covered area of 1330-2415 sq ft can command as much as Rs 87 lakh-3 crore.

With such prices, Anna Nagar is steadily transforming into a niche area. Villas, residential houses, builder floor flats and plots, the locality brings you all kinds of investment options.

Rental returns
Any guesses how much yields can you expect in Anna Nagar? As per the data with Magicbricks, a 550-sq-ft flat can fetch you Rs 9000 per month. A 1000 sq ft and above house would mean earning a rent of Rs 16,000-Rs 40,000 per month!

Similary, rents for 3BHK range from Rs 18,000-90,000 per month! Sizes vary from 990-2400 sq ft.

New properties
Magicbricks also brings to notice that new properties coming up in Anna Nagar. The properties here boast of facilities like gardens, gyms, sports complex, cycling and jogging tracks, coffee lounges, power back, lift, reserved parking, swimming pools, security, kids play area and the like.
If you are looking for returns and sound infrastructure, trends show that Anna Nagar could be a wise pick.
‪#‎annanagar‬ ‪#‎chennai‬

Source: Times of India Magic Bricks