Duplex Homes in Chennai receive 120% Appreciation
In India, when compared to other metros, Chennai ranks the first city in the list with the register of 150% capital appreciation from 2010 till now. Some of the factors that resulted in the appreciation growth may include constant infrastructure schemes, IT/ITES companies, manufacturing and service industries and lots more offer a huge space for the metro’s development. Not only villas, but also other individual homes for sale in Chennai witness better appreciation than expected.
As per the officer’s report, the investors are not scheming the real estate dealings in the metro. The realty segment is been ruled by the end users which is want seen in Chennai. On a broader outlook, the interest rates of housing loan were also reduced because of these realty transactions which in turn attracted the buyers and investors to purchase the houses. With steady and increasing price graph, many non-resident Indian (NRIs) and high net worth individual (HNI) also showed much interest towards independent homes at Chennai for sale.
The state government has too many plans to develop the metro into a foreign country. The work of the infrastructure schemes are speeding up quickly by the government. So, the metro is expected to develop within next 2 to 5 years which will result in high capital increase. According to the expert’s words, the price of the assets will be in the increasing process for the next 10 years not only in the prime areas but also in the outskirts of the city. The cost of the duplex homes in Chennai will hopefully and constantly rise.
Within 2015, the price of the asset in localities such as East Coast Road, Old Mahabalipuram Road, Chrompet, Sholinganallur etc will rise by around 120% per cent. These areas will be noticing such a high rise because of the IT development which made the builders to launch more number of projects in these places. Mid income customers are showing their willingness towards Bangalore highways, Oragadam, GST road and homes
in Chennai outer ring road
. These eye sights of the mid customers have turned towards these places since the development is occurring fast and quick. Also, areas like Porur, Poonamallee high road, Maduravoil, manapakkam, Ambattur and lots more are showing greater appreciation due to the proximity to industrial hubs. According to the reply given by the experts, the developing localities in the metro are soon to witness unexpected appreciation in the residential market which will never and ever occur in and around the country and also around the universe. So, investing in city like Chennai is like eating a cake thus gaining the attention of people all around the universe.
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