How to choose a property for investment?

Property investors are always obsessed with the future hotspots. If you are seriously looking out to invest in property with a decent land value in Chennai, make sure you cross check the following points. An investment in property is like investing your lifetime savings. If your entry time is right in the real estate market in Chennai, great returns can be expected.

Years before, the areas along the OMR and ECR stretch was considered as less preferred. With the entry of IT companies, SEZ’s and other MNC investments the land value shot up and these areas became the most preferred in the real estate map of Chennai.

Sceptics say the hotspot lists are of no use, since by the time you hear about them, they will be either occupied or beyond your budget range. However, another argument can be made that investors, especially those who invest in homes or real estate properties are not swift in decision making.

It always happens in such a way that, most of us wait till the area witness a highest migration or infrastructure change. We may have heard of that area before, but sooner or later will ignore saying, “Am still unsure about the growth. This road or express highway may come, but it’s still in its initial stages.” All of a sudden, you see the advertisement of a premium builder’s new project in that area and regret about not buying a piece of land in that place.

How to spot areas about to see a development surge?

1.Look for areas experiencing sudden improvement.

These areas may be shabby and deserted when you see it now. But they have great potential that can transform the whole area into a bustling suburb.

·       Look at areas you’re interested and check whether it matches your budget.

·      Making a check on the previous year’s growth scale of property prices will help to         have a better idea.

·     If the growth of prices is steady, check the demographics. If the area is occupied by     young residents with good income, the go ahead and purchase the property.

·      Look for new houses or renovated homes springing up in the area.

·      Look for new entertainment avenues or industrial ventures opening in the suburb.

2. Look for the areas equipped with ripple effect

If you are desperate to invest in one of the happening areas in Chennai and if you had missed the opportunity you could still invest in the area by checking the surrounding suburbs. This is relied on the timing and the perfect understanding of the developing areas. To know which phase of the local property market is in progress will help you decide according to the wave of growth.

3. Look at the accessibility of necessary services.

Ultimately the home where you live in for the rest of your life should be close enough to essential services. If the area is occupied too much with residential buildings, the chances to develop for essential services like hospitals, schools and supermarkets are less. But most of the premium builders in Chennai offer apartments which are well equipped with necessary facilities and stunning amenities.

4. Look for large infrastructure developments in progress

An upcoming express highway or a metro rail is a good indicator that the area is flourishing and is soon to be one of the most preferred locations in Chennai.

If you ask, whether a perfect investment market exists in Chennai? The answer is no. The perfect investment market is a myth. Be it any metropolis, investment market is formed depending on how the city adapts to changes and development of infrastructure. But you can always find great options for investing in residential real estate.