Fondly called the ‘Detroit of India’, Chennai has gained popularity as an emerging real estate hotspot in the last few years. Bolstered by a strategic location, this coastal metropolitan city is witnessing immense growth day by day in the residential as well as commercial property markets. From rapid infrastructural development to endless job opportunities, there are plenty of reasons for this huge boom. With new projects being launched at an unbelievable pace, Chennai has become a sought-after destination for all kinds of real estate customers.
Along with people residing in India, NRIs are also recognising the potential of property investments in this newly-found realty hub. Here, real estate properties are not only available at reasonable prices but also offer lucrative returns. However, the only challenge is picking the right project to invest in. With the continuous development of a number of new neighbourhoods around Chennai, it is quite possible for NRI investors to get lost in the sea of options.
Here are a few great property investment options for NRIs in Chennai:
Being one of the oldest neighbourhoods in Chennai, Tambaram has witnessed tremendous growth in recent years. Boasting an extensive network of well-maintained roads, it offers seamless connectivity to other parts of the city. Other than this, you can also find a number of real estate projects here with top-notch amenities. If you're planning to make a real estate investment that can offer great returns, this is definitely a good option for you.
Guduvanchery is another addition to the list of most sought-after locations in Chennai. Especially the GST road area has gone through a complete transformation in the last few years. The rapid development of several IT parks and a number of other commercial buildings in this locality has created thousands of new employment opportunities. As a result, this area has been attracting substantial real estate investments as well.
Strategically situated between Chennai's downtown and the IT corridor, Velachery is among the most thriving neighbourhoods in the city. With its close proximity to several IT and ITES companies and sealless connectivity to the OMR, it has almost blended into the city now. Being a prominent location with great infrastructural growth, Velachery has gained huge traction as a real estate hotspot.
Sometimes also spelt Solinganalloor or Sozhinganalloor, this is a suburb located in the southern part of the city. With the presence of several MNCs, this area has turned into an IT corridor over the years. As a result, more and more people are considering this a suitable place to live. Currently, Sholinganallur is home to a number of real estate projects (both residential and commercial) that you can choose to invest in. These real estate properties not only generate good rental income but also offer great returns due to their high appreciation rate.
Maraimalai Nagar, a suburb of Chennai, is counted among the most thriving neighbourhoods. This area offers excellent connectivity to other parts of the city through well-maintained roads and efficient public transport. In addition to this, with excellent infrastructure and promising growth prospects, Maraimalai Nagar is considered an ideal location for real estate investments. Whether you are looking for a residential apartment, a plot, or some commercial property to invest in, you will find plenty of options here.
If you are an NRI looking for investment opportunities in the Indian real estate market, Chennai is undoubtedly a great choice. You can choose to invest in residential or commercial properties in any of these localities and achieve great returns over time.
