The residential market in Chennai has benefitted a lot in the recent few months. With growth in the success of flats, there are certain areas where people would love to invest in there.
Chennai 29th April 2017: The residential rental market has benefitted a lot in the previous three months. Property brokers have said that the rented house’s demand has been increased across various localities. The preference of end users for the present moment has shifted to property renting and waiting for anticipated softening on price levels and thus enabling affordability. The state of Chennai has seen a growth of 8-12 percent in average weighted rental values against inactive capital values for 2016.
So, from the point of view of an investor, if someone is scouting for properties as well as wondering where to invest, this article will show you the top places where investment might be suitable and can generate profits.
Localities presenting high rental values
For the advantage of the viewers, the information is divided into two categories – residential houses and flats. Localities presenting flats when compared to the ones presenting houses have shown better results as of now.
Various useful data have revealed that among the areas presenting flats in the state of Chennai that has presented a good growth in rental results in the last few months. Thiruvanmiyur is at the top most position with a healthy 16.6 percent growth and is followed by Nanmangalam with a superb 11.5 per cent growth. Poonamalle has shown a 10.2 per cent growth whereas Oragadam has shown a 10.1 growth rate. The place of Navalur has shown a 6.7 growth rate.
Areas presenting residential buildings that have recorded high rental yield are Medavakkam with a fabulous growth rate of 12.5 percent and Mangadu with a growth rate of 3.1 percent. They are followed by Ayappakkam that has shown 1.2 percent decline in the growth rate along with Sithalapakkam that has shown a huge 24.0 drop rate.
Properties present in these areas
In Thiruvanmiyur there are both 2 and 3 BHK flats available. In Nanmangalam also, there is the presence of both 2 and 3 BHK flats.
Author: Somdeepa Bhattacharjee
Somdeepa Bhattacharjee has a total experience of five years in the Content Editorial, Online Community and Internet Marketing domains. As a part of the content team of a3solutions.in, she develops research-oriented stories and News Articles on recent market trends. She has a proven strong analytical skill in her Articles which help readers to understand real time scenario of Realty Market. In her free time, Somdeepa engages in Blogging, Trekking, Reading Classics and Photography. She really fond of Entrepreneurship, Travelling and Foods.