Want to Invest in a Plot Less Than 15 Lakhs in Chennai?

Building your dream home within the city limits seems to be a far-fetched dream. While every home buyer's decision is essentially driven by his savings that he can allocate towards investing in a property, the soaring prices within the city limits are pushing property seekers to buy residential plots in the peripherals. Chennai's real estate scene is currently witnessing a major boom and the middle-class individuals are moving towards the suburban localities because of its modest budget pricing and hassle free environment. Below we list a few neighbourhoods in the outskirts that offer an array of residential options that are affordable.

Gerugambakkam Situated 20 kilometers away from the city, the locality has an abundant supply of plots. Its proximity to the Porur Junction has bought the vicinity onto the realty map. The rapid development in the neighbouring localities and great connectivity are some of the factors that are pushing the realty demand here. Properties in Chennai especially in areas like Gerugambakkam are witnessing a major demand due to its stable and matured real estate market.

Affordable prices is another element that is drawing many home buyers. According to recent reports the average pricing for residential plots here falls below the Rs 14 lakh slab. The ongoing rates for a residential plots here are between Rs 2,100 and 2,400 per square feet. The minimal prices are drawing many localites who are buying medium size plots and are creating retirement homes. Real estate developers too are now tapping into this trend and are creating a number of pensioner's abodes.

Sriperumbudur Situated on the Chennai-Bangalore Highway, the locality is about 40 kilometers away from the city. The insurgence of many MNC's (Multi-National Companies) have grown the realty market of Sriperumbudur.

Targeting both IT professionals and localites, both local and national real estate developers are buying land in large parcels and are creating extraordinary homes and are offering medium sized plots ทาวน์เฮ้าส์ สุทธิสาร at economical prices. The high ROI (Return on Investment) due to the presence of an established commercial belt is attracting many second time home buyers to invest in properties here. In the past one year the capital prices of residential plots here have appreciated over 31.50%. A small sized plot that is about 600 square feet is estimated to cost Rs 5 lakhs. The current ongoing rates fall under the price bracket of Rs 5,100 and 5,800 per square feet.

Apart from just plots, apartments in Chennai especially in a locality like Sriperumbudur have seen a steep demand. Catering to the demand created by many white-collared professionals, builders are now offering state of the art amenities at cost-effective prices. Multistorey buildings too have seen a hike of 13.6% in terms of its capital values.

So if you are looking towards investing in a property that is pocket friendly yet is capable of generating high return on investment then do not think twice before purchasing plots here.