Traditional localities give buyers an opportunity to own property in Chennai and three such regions qualify as an excellent investment destination. Neighborhoods such as Nungambakkam, Mylapore, and Adyar are three such localities which have proven thus far to be rewarding destinations at which to invest in a new home. Moreover these three localities are expected to continue to provide good returns on any real estate investment made today as well. These three regions have recorded the highest price per square feet and in the future all three regions are expected to continue to grow dearer.
Prices Have Risen Considerably in All Three Localities
In Chennai in particular, developed localities have proven to give excellent returns on investments made in such regions. Out of such high growth real estate markets in Chennai, Adyar has proven to be the darling as the price of real estate in Chennai at this locality has risen by nearly 28 percent over the past few years. Other localities such as Nungambakkam, and Mylapore have also proven themselves to be excellent destinations at which to buy real estate and the price of property at these regions has risen by 13 percent and 12 percent respectively. Notably industry insiders expect the price of property in these regions to rise sharply over the next three months. Homebuyers who are hunting for residential property in Chennai and expecting to reside in the same shall find numerous options to choose from in these three localities. All three localities provide a quality living standard as can be gauged by the residents and property dealers ratings regarding the quality of life in these three regions.
Understanding The Strengths of These Localities
The ratings mentioned above comprise of three different parameters which are Environment, Commuting, and Places of Interest. The details of these three parameters are as follow
Environment: This metric is made up of the quality of roads, cleanliness, safety for residents, and the overall quality of life in the neighborhood. All three localities score high in these four metrics
Commuting: Consists of connectivity to the rest of the city by public transport or private vehicle. It also includes ease of parking, and relatively easy flowing traffic in the locality.
Places of Interest: Includes the quality of social infrastructure in the region such as schools, hospitals, markets, and restaurants. According to the residents who live in projects in Chennai at these three locations, residents are well served by the social amenities provided at these three localities in Chennai.
The presence of a highly developed social infrastructure in these regions is one of the reasons which make these localities an attractive place to buy a house in Chennai.
The Ground Scenario
Delving into more details regarding the livability of these three neighborhoods we find that Adyar is a secure locality with a police station and well lit streets, the sewage and drainage system also work well in this locality. The bus depot in Adyar is also widely used. There is however a problem with traffic jams in this region. Nungambakkam has the advantage of being in the close vicinity of the railway station as well as the airport in addition to being well connected to the rest of the city via busses, and taxis. Residents of Nungambakkam often commute by Metropolitan Transport Corporation and local trains. Mylapore is well connected by bus services such as MTC and MRTS and has abundant parking spaces. This last region also has a functioning drainage and sewage system.
Conclusion
Buyers eager to own luxury homes in Chennai would be wise to pass on Mylapore yet will find a pleasing home in either Adyar or Nungambakkam. There are also ample affordable homes in Chennai in Adyar and Nungambakkam.
No comments:
Post a Comment