Investment Opportunities in Chennai Property Markets
- Date: 2007-11-21 - Word Count: 390
Share This!
Good news for Chennai residents. And property investors and real estate developers too! The city's infrastructure and connectivity would be enhanced with its airport wearing an international look by year 2010.
Chennai would be able to receive a far greater number of national and international passengers everyday as the capacity of the terminal building will be enhanced. In fact, a whole new terminal building will be constructed at the airport that would be able to handle as many as 4-million international and 10 million national passengers.
The total cost of the project is estimated at Rs 2,038 crore.
The Impact
Chennai properties around the south-west part of the city are likely to enjoy a northward rally in the next couple of years. The business opportunities created by the modernization of airport would boost the property values in the areas around the facility.
According to the property experts, the areas of Guindy and Vela Chery would be among the most-benefited. Besides, the property prices in Chennai's Saidpet area are also likely to go up as the airport project would progress.
The property investors might also be interested in locking properties around Inner Ring Road, in expectation of earning handsome gains. The road connects the central city localities like Kodambakkam and Mambalam with the airport.
Most encouragingly, the hotels and hospitality industry can leverage the benefits by securing suitable land areas in the areas. As the number of incoming passengers would rise in Chennai, demand for hotel rooms and service apartments would trigger like a bullet.
Notably, the largest 5-star hotel Le Meridien has already set its footprint at Guindy, near the airport, but there is no dearth of opportunities for other players.
Outlook
Tremendous business opportunities would surface up at these locations for retail players as well. Similarly, prices of residential properties will also rise in areas lying in proximity to the airport.
As per the reports of MagicBricks reports, the capital value for a residential apartment in Vela Chery hovers between Rs 2,500 and Rs 3,000 per sq. ft, at present.
The market observers say that the capital values and rentals have already corrected by about 10-20 per cent in the past 8-12 months and market is apt for investment purposes.
For more details on Chennai Property, log on to magicbricks.com
For more information on Jaipur Property visit magicbricks.com, here you can also know about Gurgaon Properties.
Chennai would be able to receive a far greater number of national and international passengers everyday as the capacity of the terminal building will be enhanced. In fact, a whole new terminal building will be constructed at the airport that would be able to handle as many as 4-million international and 10 million national passengers.
The total cost of the project is estimated at Rs 2,038 crore.
The Impact
Chennai properties around the south-west part of the city are likely to enjoy a northward rally in the next couple of years. The business opportunities created by the modernization of airport would boost the property values in the areas around the facility.
According to the property experts, the areas of Guindy and Vela Chery would be among the most-benefited. Besides, the property prices in Chennai's Saidpet area are also likely to go up as the airport project would progress.
The property investors might also be interested in locking properties around Inner Ring Road, in expectation of earning handsome gains. The road connects the central city localities like Kodambakkam and Mambalam with the airport.
Most encouragingly, the hotels and hospitality industry can leverage the benefits by securing suitable land areas in the areas. As the number of incoming passengers would rise in Chennai, demand for hotel rooms and service apartments would trigger like a bullet.
Notably, the largest 5-star hotel Le Meridien has already set its footprint at Guindy, near the airport, but there is no dearth of opportunities for other players.
Outlook
Tremendous business opportunities would surface up at these locations for retail players as well. Similarly, prices of residential properties will also rise in areas lying in proximity to the airport.
As per the reports of MagicBricks reports, the capital value for a residential apartment in Vela Chery hovers between Rs 2,500 and Rs 3,000 per sq. ft, at present.
The market observers say that the capital values and rentals have already corrected by about 10-20 per cent in the past 8-12 months and market is apt for investment purposes.
For more details on Chennai Property, log on to magicbricks.com
For more information on Jaipur Property visit magicbricks.com, here you can also know about Gurgaon Properties.
Related Tags: property, real estate, shop, properties, buy, sell, rent, chennai, flats
Your Article Search Directory : Find in Articles
Recent articles in this category:
- 5 Reasons to Buy Jasper Real Estate
Jasper is a small town in North Georgia and it is growing rapidly. Since North Georgia Foreclosures - Ellijay Real Estate
Ellijay Georgia has always been known for it's outdoor activities and seasonal festivals. Downtown E - How to Deal With Blocked Drains
A blocked drain is an occurrence that happens eventually to all households. You may have experienced - The Benefits of Hiring a Plumbing Consultant
Your dream home may not always be brand new, with fresh paint and home essentials. There are certain - The Worst Mistake You Can Make When You Apply to Rent a Home
A whole new class of people has become renters and potential renters in America during the last thre - State of Individual Real Estate Markets
Everybody is well aware of the hit that the real estate market has taken over the past three years. - Thoughts on Avoiding the Landlord Trap
I've heard several people say they would never invest in a multifamily rental property because they - An Idea to Increase the Bottom Line of Your Investment Property
Are you pretty sure that you've already maximized the income coming from your property? If you've cl - Finding the Value of a Piece of Investment Real Estate
There is a lot of confusion about how much investment property is really worth. We'll look at three - Arkansas Land For Sale - Search Engine Optimization and Your Website
If you have Arkansas land for sale and are interested in advertising it on your website I have a few
Most viewed articles in this category:
- How High Did Home Prices Really Go
The U.S. Census Bureau released data on Tuesday that revealed where the nation's hottest markets wer - New Homeowners Tips for Household Safety
With so many items on their ¡°buying a home¡± checklist, few homeowners take into considerati - Truth About VA Foreclosures
Many people now days are finding themselves out of work and not being able to make the mortgage paym - Avoid Rookie Real Estate Investing Mistakes
When Robert Kiyosaki, author of the Rich Dad book series, bought his first property he was, of cours - Finding The Perfect Roommate On Craigslist
Craigslist, Roommates, and The Concerns Craigslist is "great" when it comes to looking for housing - The Forgotten Secret To Selling Property - Simple, Quick And Cheap
Why spend big dollars trying to get people to drive a long way to see your house, when your best pro - Get Amazing Results Selling Real Estate Online
This is the age of the internet. Why not take advantage of the widespread use of the internet to ad - Dallas Real Estate Information
In the United States, Dallas is considered as the second leading state according to the area. If any - The Largest Private Equity Indian Real Estate Deal
In the largest private equity deal won by the real estate sector, Morgan Stanley Real Estate has inv - Fractional Real Estate Ownership
Fractional ownership of vacation ski condos is growing in popularity. Park City Utah a popular ski t