Chennai – 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.
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