By consolidating borrowings, the total EMI burden and interest cost can be reduced With the Reserve Bank of India cutting the repo rate by 25 basis points last week, borrowers would be happy that the rate cut season is beginning. While most banks haven’t still signalled base rate cuts, it is only a matter of time before…
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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
Arun Kumar, an IT professional, wanted to invest in land, with the plan to build a house where he and his wife could retire post his retirement. He got in touch with several agents who dealt directly with township or land developers.“An over enthusiastic sales person kept calling me, asking for a site visit. When…
Read MoreChennai’s residential market, which has been impacted by the overall slowdown in 2014, is recovering with a spurt in the volume of enquiries and clinching of deals for apartments in the price range of Rs 40-60 lakh. Unlike earlier, property developers are seeing deals closing as the first time homebuyers want to make use of the…
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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