TOP 10 REALTY LOCATIONS OF CHENNAI FOR RENT

When you talk about realty locations, many cities come to our mind. Every city has its special things and every city has one or two such places which are considered to be good for real estate investment. What if there are ten solid such places in a city rather than just two or three? Won't it be great for the city and of course the people living in the city? The city is none other than Chennai as mentioned in the title above. In this article there will be a brief introduction to the city, then there will be listings of some of the various things that make the city what it is today and the last thing will be the reasons for the rise in popularity for the city. Also, don’t forget the importance of completing formalities for a rental agreement once you have made your decision to rent a house.

Chennai is the capital of the Indian state of Tamil Nadu. It was previously known as Madras. It is a cosmopolitan Metropolis city, ranking third in the population after Mumbai and Delhi. Chennai has a major cultural, economic and historic base in the country and the contribution of this city in these three fields is unbelievably good considering the various scholars that pass out of the various universities of this city and then go abroad and take up jobs in big firms. Chennai as mentioned above is the fourth most populated metropolitan city who is also called as the Detroit of India said by Wikipedia for appreciating its automobile industry.

Chennai is beautiful with its rich culture and heritage. It has featured in many travel shows telling the world how amazing it is to visit this city. The metropolitan city of Chennai is recently ranked as the fourth largest metropolitan city and ranks third in the GDP that is gross domestic product per capita. Though there are problems in the city such as population influx and pollution, with its growing reach in the country and it still being in the developing stage, experts say these problems are bound to happen but it is also evident that Chennai will soon find some or the other solution for each and every problem occurring in the city.

The projects and properties in Chennai are made by keeping the residents and the citizens of the city in mind. Everything is made by their choice and according to what they find comfortable. In short the projects are made for them and by the people they choose and find deserving. The number of projects constructed have been increasing day by day and so are the house for rent in Chennai and have led to a great scope and future in realty investment. Here are some of the realty investment localities in the city:

1. The suburbs of Chennai are a hope and home to people who cannot afford living in the high priced apartments in the city center. The suburbs of the Chennai city are carefully transformed into a mini city where you can expect a flat to be available for INR 5,000/- per square feet. There are also various IT companies that choose to be located in the suburbs rather than the main city. Many well-known builders have come up with luxurious yet affordable living projects in this area. This area is called as Porur and its main benefit is good connectivity with the rest of the city.

2. Old Mahabalipuram road (OMR) is the IT hub of Chennai. There are various new properties coming up in this area and the demand for apartments is very high here. There are many projects which are sold out and there are more number of renters staying in this area. The area is known to be popular amongst all the realty investors.

3. Tambaram has become one of the most famous realty hubs for Chennai residents considering the high returns from the properties and good amount of money coming from the rents. It has become a preferred area for commercial projects and other related things. This area has gone through a major transformation.

4. ECR is the East Coast Road connecting the city of Chennai to Pondicherry and other cities. The connectivity of this area is extremely good and so there is no problem of travelling and commutation. It is easily accessible and the posh bungalows and lavish apartments don’t forget to make a mark on your heart and mind. The whole stretch of this road is decorated with these beautiful houses which both the investors and moneyed end users are highly interested in.

5. Oragadam is again a suburb part of the city past OMR, showing good capital and rental appreciation. This place is reachable for all the people who are looking for only affordable living. The apartments here cost approximately INR 3,300/- per square feet.

6. Pallikaranai is one of the newest hotspots of the city which grew after 2011. It is one of the largest realty investment destinations in the entire country. The housing prices of this area have experienced tremendous appreciation compared to others but they are expected to grow further. There is excellent connectivity of this area to the south of the city and the IT firms in this area make it one of the most desirable localities for realty investment.

7. Medavakkam is one of the 6th largest investment destinations in the Chennai city. Its connectivity to the GST Road and other major places add to its benefit. It is one of the happening hubs in the city for investment. The area has achieved major infrastructural development.

8. Guduvancheri is in the southern side of the city which has been successful in attracting lot of realty investors. There are various affordable housing projects coming up in this area. The city also has good connectivity with the other parts of the city which is another plus point.

9. Mahindra World City, close by, is also very famous for its beautiful apartments and villa gated communities that are highly luxurious yet are affordable to the people. All the services you can think of are present here making this area another hotspot in the suburbs of Chennai.

10. Perungudi in OMR, is also an area where various IT firms are found and large numbers of residential projects in city popular with the young IT renter crowd.