Chennai Real-estate developers in Chennai are seeing high land costs and regulatory overdrives eating into business potential, even as corporations wait to set up offices in the city. At about 1.5 million sq ft, new commercial realty that came up in 2014 was the lowest in a decade. Against average demand of about 4 million…
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Property Management for your Rental Properties, Letting out for rent in Chennai Coimbatore India
Property Management for your Rental Properties, Letting out for rent in Chennai Coimbatore India
Property Management for your Rental Properties, Letting out for rent in Chennai Coimbatore India
In Chennai Ever wanted to boast of a luxury address on your business card but find it unaffordable? Well, Magicbricks brings you property options in addresses close to premium areas, but at economical prices… Near Poes Garden Poes Garden is recognised as one of the most affluent residential addresses across India, as it is home…
Read MoreChennai – Magicbricks found that areas such as Adyar, Nungambakkam and T Nagar are gaining popularity among end users and investors. These feature among the top preferred localities as recorded by PropIndex, a quarterly research initiative by Magicbricks.
These coveted addresses are nearing saturation, but with re-development making its way, there is considerable supply of new properties in these markets. However, the prices are in the range of Rs 1-16 crore, depending upon the size, property type and the exact location of the house.
If the budget doesn’t allow you to buy in these areas, then trend watchers hint that the rental market is also good. If you are an investor, you would be happy to note that a sizeable number of tenants do not mind spending Rs 30,000-50,000 per month as rent.
Read MoreAre you working in Velachery and unable to afford to buy property in the locality? Thoraipakkam, the neighbouring locality, may fit your pocket. Located in South Chennai along the IT Expressway, it is about 7 km away (15-20 minutes drive) from Velachery and offers comparatively affordable property prices.
According to Magicbricks data, the average capital value for an apartment varies from Rs 4,600-7,000 per sq ft, whereas, in Velachery the values are Rs 6,700-7,500 per sq ft. Since it is located on the IT Expressway, majority of the demand is from the IT professionals working in Velachery. This has also pushed up the rental market here.
The data shows that one can find a 2BHK unit at a monthly rent of Rs 15,000, while a 3BHK with semi-furnished features, is available between Rs 20,000-30,000 per month.
Thoraipakkam is one of the preferred residential locations in Chennai today. This was evident on Open House – a discussion forum by Magicbricks, where users posted queries asking for investment potential of the area. Apart from affordability, Magicbricks brings few more reasons for why you should invest here.
Infrastructure and connectivity
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January 31, 2025
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