Properties in Tamil Nadu

Tamil Nadu, one of the famous South Indian states, is known for its temples, higher education facilities, different festivals, culture, tourist locations like hill stations, and ,of course, the delicious, mouth-watering South Indian food. With such exotic things to offer, this state has become a great place where anyone would like to own a property. Or are these still not compelling enough to convince you to buy a good property in Tamil Nadu? What’s keeping you away?

The pace at which industries are growing in Tamil Nadu is also an important aspect that has a direct influence on the growth of commercial and residential properties. The rapidly developing social sectors, in addition to the necessary structural facilities, have also made this state a perfect spot for setting up residential projects, thereby, lending a good boost to Tamil Nadu real estate market. The monetary values of Tamil Nadu properties have been steadily increasing in some parts of the state due to the steep rise in housing demands.

Ideal cities for investment in the state

Chennai, the capital of Tamil Naduy and a metropolitan city, is the most evident choice of all realtors for spending money in the Tamil Nadu real estate business. Some of the other major cities that are on the list of many property investors and developers are Coimbatore, Madurai, Trichy, Vellore and Salem. The success of the software and IT industry, in addition to other industries in these places, is a major factor that has contributed to the advancement in commercial real estate sector in Tamil Nadu.

Upcoming Projects in Tamil Nadu

There are several residential projects coming up in Tamil Nadu, which are in various phases of development. Some of the important ones are listed below:

• 300-Villa Project in West Chennai: The 300-Villa Project in West Chennai is a project undertaken by Alliance group. The cost of apartments in this villa will be in the range of Rs.6 million – Rs.50 million. We understand that it very costly, but what you get is worth the money you invest.

• Vishranti Homes: This is supposed to be the most expensive of all residences at around Rs. 60 million for a 4,200 sq ft home. Did it shake your heart?

• Lifestyle Residential Project: This complex in Saidapet boasts of several modern amenities that are sure to tantalize your sensory receptors. You can find facilities like schools, hospitals, entertainment centers and markets within the complex itself.

Property Rates in Tamil Nadu

The property rates in Tamil Nadu depend upon the city and the area the property is located in, and the rates vary widely throughout the city. Chennai, being the capital city, has the highest rates, followed by other cities in the state. Considering the northern part of Chennai, the approximate rates are as mentioned below:

• In Annanagar area (for per square feet): A flat would cost you anywhere between Rs. 3240 to 4320 per square feet, where a plot would cost from Rs. 3848 – 5130

• T.Nagar (for per square feet): Flats cost around Rs. 3780 – 5040 per square feet

• Ambattur (for per square feet): Flats cost from Rs. 1012 to 1350 per square feet; plot cost Rs. 439 to Rs. 585

Frisking through the property rates in Coimbatore, which is the second major city in Tamil Nadu, land costs (price per cent) around Rs. 7- 9 lakhs in R.S. Puram area of the city, Rs. 10 lakhs in the Race Course Road area, Rs. 3 lakhs in Mettupalayam Road, and Rs. 6.5 lakhs in the Sai Baba colony area. The mentioned rates are mere approximate values and they change constantly with time.

Purchasing a property in Tamil Nadu in the present scenario is easier with the assistance of dealers, and availability of housing loans. For sure, banks have proved to be the Almighty’s messengers with various housing loan schemes available to almost every person to buy an accommodation. The major cities in this state are definitely lucrative destinations for investment, and it would be a good idea to make an investment before the market really gets saturated.

So, what are thinking? Still thinking if you should put in your hard-earned money in the Tamil Nadu real estate market?