Investment by NRI's in Real Estate in Chennai
As the rates of the NRIs investing in the Indian real estate is increasing year by year, it has well-incited the boom in the Chennai’s real estate scenario. The city has been growing at an unprecedented rate in the recent years with investments pouring in from all directions and into all sectors. As many companies have set up offices here providing employment opportunities for thousands of people from various parts of the country, Chennai has become one of the prominent cities in India which promises great returns on real estate investment.
If you are an NRI looking to make an investment back in your homeland, Chennai is your safe bet to multiply your investment by folds. From the educational institutions to the shopping and medical facilities available in abundance all over the city, Chennai isn’t just a hub for a single industry but is the place where every industry flourishes and this is an advantage for many to get good returns on their investments.
According to Khaleej Times, Chennai is one of the top three locations where NRI buyers look to invest in. Velachery, Thuraipakkam, Tambaram, Sholinganallur and Valasaravakkam are a few locations where the NRI buyers wish to make a real estate investment.
Options for all:
One of the major reasons that many NRIs look to make an investment is because there is an option for everyone to pick their choice of investment. From buying a portion in an apartment to a big bungalow, you have endless possibilities to make an investment and get higher returns in each one of them. You can invest in lands, apartments, individual homes, commercial spaces, villas, buildings, bungalows or any other option that you wish to invest in with full confidence of getting good returns.
Good resale value:
When you are looking to make an investment, the main aspect that you will look for is how good the resale value is. Since most of the areas in Chennai have already developed or are on the verge of developing, the resale value for all kind of properties is always on the road to further increase. You can make a significant profit from Chennai real estate even if you are looking for a short-term investment.
Steadfast appreciation:
When you look at the graph of the real estate scenario in Chennai, you can observe that over the period of the last five years, there has been a constant appreciation in the value of the properties across all the localities and no instances of any significant depreciation. This shows the strong development in the value of properties and the promising investment opportunities available. You can make a confident investment in real estate in Chennai and reap high capital gains. With the enormous rate of appreciation observed year after year in Chennai real estate, there is no doubt that even short-term investments can be sure to multiply their investments!
Higher rents:
As there are a lot of employment opportunities in Chennai, you can see a lot of people from other parts of the countries making Chennai as their home. This further increases the rental rates as the demand for houses and apartments have been on the rise. Chennai is present at an optimal stage where the rents aren’t too higher like the other metropolitan cities, but it is high enough to boost real estate, create a demand and bring more appreciation in the rental rates down the line.
The contribution by the government:
With the set up of the Real Estate Regulatory Act (RERA), the government has helped promote the transparency of the investments which further help the NRIs looking to make an investment in India. The recent agendas to provide housing for all also are playing a significant hand in bringing an increase in the real estate value.
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