Real Estate for NRI
When the country’s economy is growing at such an unprecedented rate, the instances of NRIs investing in the real estate in India have increased in the past few years. As more industries are booming and new companies are founded, the demand for the real estate market seems to have steadied, if not increased, in the recent times. NRIs have made their home in other countries but at the end of the day, nothing feels equal to having one’ s own property in the mother country. Therefore, it seems like the perfect option to start investing in real estate in the hopes of the growing economy.
Investment Opportunities:
There are a lot of opportunities for NRI to invest depending on whether they are opting for a short-term or a long-term investment. Usually, most of the NRIs go for buying a portion in flats or an individual home if they have a decent budget. If they are looking for a more major investment option, then buying a land will always fetch well in the end. As more and more companies have started cropping up, the demand for the land has shot up and experts are hoping that it will still increase. So if they have a much broader budget, it is better to invest in lands than in flats and look for long-term, high returns.
Another investment that NRIs can make in real estate is building their own flats or commercial spaces and giving it out for lease. Depending on the location of the property, the commercial spaces can fetch a huge sum of money over the years and one can retrieve the initial investment made within just a few years and the same goes housing accommodations too when it is built in the right locality.
Which is the best location for NRI to invest in Chennai?
Velachery is one of the fast booming places in Chennai due to its easy connectivity to the IT corridors around Chennai. There has been a recent increase in the number of shopping areas in Velachery which has contributed to the increase in the value of properties in Velachery. Once called as a suburban area, Velachery has recently become the major hub where all Chennaites flock to with Arun Excello’s Compact Homes accommodating more than 500 flats. Schools, colleges and major restaurants have all opened in Velachery and this is the right time to make an investment in the area.
Tambaram is a yet another area in Chennai which is seeing an increase in the real estate value due to its connectivity. The Tambaram railway station is making a major contribution with most of the inbound and outbound trains to other cities making a stop here. Also, the local trains connected to most of the places in Chennai pass through Tambaram every few minutes. The bus stop in Tambaram is also one of the reasons for its good connectivity. With a lot of shops available to cater to every need, Tambaram is a place where one cannot go wrong when making investments in real estate. Arun Excello’s Jai Hind and Ragamalika Apartments present in the prime locations of Tambaram are among the apartments that are in most demand.
Sholinganallur is another up and coming place which witnessed a major transformation due to a large number of IT companies which turned it into a mega IT corridor. A lot of people working in IT companies have started settling in and around Sholinganallur and it has now become one of the hottest places in Chennai to witness a fast development and a sharp increase in the value of real estate. Arun Excello’s Compact Homes, Mohanam, at Mambakkam is an ideal investment option in Sholinganallur. There is always a constant need for places to stay and commercial places to open their business. Therefore, one wouldn’t be disappointed to make an investment in real estate and what’s more is that with the increase in the demands, one can get back your investment faster than anticipated.
Apart from these places, a few areas where the real estate value is on the verge of a boom or is on the path to increase are Valasaravakkam, Sriperumbudur and Madipakkam. When you want to make an investment in real estate, after choosing the areas make sure to pick the right localities so that you can start getting the fruits of your investments sooner.
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