Chennai real estate market has gone through an overhaul recently and come out stronger than ever. Demonetization is one amongst the many reasons which has put the customers in a dilemma about investing in new property in Chennai. However, locales like Sholinganallur, Avadi, Mannivakkam, and many others in the Southern Chennai have emerged as the most desirable locations to invest and buy property.

Bajaj Finserv Homes and Loans provide easier and quicker loan approvals which require minimal documentation and the available amount ranges from anywhere between Rs. 30 Lakhs to 10 Crore according to your requirement and credit score. Apart from that, they also provide complete assistance in deciding which property would suit your needs and preferences.

Strong Recovery History

Large investments in the property is still a very complicated issue amongst the people of Chennai. The sales have gone down far too many times in the previous years and this makes the people highly susceptible to invest in property. However, the developers are now dedicated to give better deals and offers which provide a good reason to start investing in Chennai real estate. Markets have a tendency to recover quite soon after natural disasters in Chennai. The last Tsunami in 2004 decreased the demand for apartments in East Coast Road but the people who invested in the properties of this region after the disaster are gaining immense returns.

Decline in Interest Rates

Demonetization has brought a considerable decrease in the flow of money in the last few years. However, this has only contributed towards a decrease in the interest rates for home loans. Due to decreasing home loan interest rates, home buyers are urged to avail loans for investing in homes. Moreover, you do not need to wait for the property prices to drop, you can confidently purchase your dream home with lower interest rates on home loans.

Rise in Mid-Segment Housing

Chennai real estate has seen an immense development in various clusters and sectors. The place has a history of offering great return on investment for the investors who have decided to put their money in the market. Residential apartments in many places like Mambakkam, Chromepet, and Korattur range from affordable prices of Rs. 40 Lakhs to 60 Lakhs. The driving factor behind such an increase in the mid-segment of housing market is the continuous reduction in the home loan lending rates.

Existing Projects is The Priority

The main reason is the rapid development of infrastructure after the disaster of Cyclone Vardah has hit the city hard. Many major projects like Chennai Metro Rail, underground sewage system, bus terminals, suburban rail networks are undergoing construction which is surely going to have a positive result on the housing market. Construction costs have gone up and this has led the developers to focus instead on completing their existing projects.

The new launches in the future would be placed at considerably higher prices and hence current period is the appropriate time to invest in the apartments for sale in Chennai. The employment expansion opportunities due to development of many MNCs has only contributed towards boosting the real estate market of Chennai. Moreover, the development of infrastructure, luxurious and affordable housing schemes, prospering economy, and many additional factors make the city a major hotspot for investing in the real estate. The average income buyers have a stability in the state, hence driving the development of residential properties within the budget of everyone.