Chennai Demesne

[sriyavenugopal]

Recent developments and growth of real estate in Annanur

Annanur is located near Avadi at a distance of around 20 km from the Chennai City Centre. Some recent developments in the area have resulted in growth of real estate industry in the locality. The growth is all round but particularly noticeable in case of 1 BHK apartments in Annanur that are great demand these days.

Recent developments that have substantially contributed to such growth of real estate business in and around Annanur are the new railway roads. One of them is from the Annanur Railway station to Murugappa Polytechnic that also has connectivity with NH 205. The other one nearing completion is 30 feet railway road. Compared to many other areas in the vicinity of the Chennai City the residential areas in Annanur enjoy greater popularity.

 One of the major reasons for growing demands for 1 BHK apartment in Annanur is that many students studying in polytechnics and colleges prefer staying in the area because it has excellent rail and road connectivity to all those academy locations. The other reason that has contributed to the growing demands for apartments, especially 1 BHK in the area is the scarcity of availability of hotels and other accommodations. Also the apartments come much cheaper in terms of rents in comparison to the hotels.

Tourists and travelers to Chennai area also prefer short stay in these apartments in Annanur because of the surrounding natural beauty and large lakes like Arpath, Ambattur, Thrimullaivoyal, and many others including the famous Red Hills Lake.

Most of the local residents are railway employees or public servants and most of them have transferable jobs. They prefer staying in affordable rented accommodations for which the 1 and 2 BHK apartments let out by local inhabitants come up very handy. A recent development in the zone of real estate in the area is development of flats and demands for their sale and renting.

Annanur has excellent road and rail connectivity. The Chennai Tirupati NH 205 connects the railway station with a 60 feet road connecting the NH with the railway station. Some strategic new road projects are in the offing that would certainly enhance the importance of real estate properties in the area.

[sriyavenugopal]

Chennai home buyers prefer 2 BHK apartments

As per the survey conducted by one of the realty portals, potential home buyers of Chennai are more inclined towards purchasing 2 BHK homes. This is the reason that developers have started constructing 2 BHK apartments in extreme abundance, specifically those which are priced below Rs 70 Lakhs.

Big and Intense residential projects might grab a lot of attention. Sales here usually indicate the market trends of a city, but the real estate market of Chennai is characterized by offerings from small builders who develop a handful of apartments on a comparatively smaller plot. Targeting the larger segment of the society, residential units in Chennai are developed with standard facilities like lift, power back-up, disposal, reserved parking, rainwater harvesting and security. 75% of the total demand for properties in Chennai is from end-users who are willing to buy property as a place of residence. Apartments in a price slab of Rs 30 – 50 Lakh are highest in demand, which apparently validates that 2 BHK apartments are preferred the most by Chennai home buyers. One of the surveys has revealed that, in this budget range, the city offered the highest supply of 2 and 3 BHK apartments.

Moreover, Chennai being an IT hub is a home to young IT professionals who are opting to purchase a traditional and affordable 2 BHK houses. Keeping this in mind, some of the emerging areas like Medavakkam, Pallikaranai, Porur and Madipakkam have abundance of properties in the price range of Rs 30 - 50 Lakh. Medavakkam and Pallikaranai are compactly filled with builder floor apartments with a price range of Rs 4,300-4,500 per sq ft. The average price of 2 bhk residential Apartments for Sale in madipakkam is Rs 4,700 per sq ft. Maximum of the options offered by large developers or the small builders are 2 bhk Apartment for Sale in madipakkam. The locality is well connected to nearby suburbs through bus and railways. However, the upcoming Metro project and Mass Rapid Transit System can be a game changer and will greatly impact the real estate market of Chennai. Hopefully, the market sentiments will further improve in near future.

[sriyavenugopal]

Kovalam, Chennai - A destination for future investments

Kovalam (Covelong Beach) located on the ECR en route to Mahabalipuram, is regarded as one of the most adventurous beaches of Chennai. There are several locations in and around the city which are not just history, but are also fabulous from the prospect of spending a pleasant weekend or a short vacation. Kovalam in Chennai is popularly known as a fishing village, but if you dig deep into its history, you will come to know that it was a port town developed by the Nawab of Carnatic, Saadat Ali. However, it was later taken over by the French and then demolished by the British. The scenic beach, windsurfing and fishing activities draw tourists from all round the globe. Keeping all these factors in mind, areas along Kovalam is anticipated to emerge as a prime destination for real estate investments in the future.

Kovalam enjoys superb connectivity to other major localities of Chennai through bus service offered by Metropolitan Transport Corporation (Chennai) (MTC) and TNSTC. People can reach here either by Old Mahabalipuram Road (OMR) or by the East Coast Road (ECR). Chennai International Airport is at a shorter distance which is an added advantage. With a greater number of tourists arriving every year, the place has gained special recognition amongst developers and builders.  Although huge fraction of land is untouched, developers such as Vijay Shanthi Builders and Proptree Foundations are aggressively investing in this locality. The Vijay Shanthi Group is coming up with a residential project named blue, which contains 19 exclusively designed luxury villas in a configuration of 2 BHK apartments for sale in Kovalam.

Moreover, easy access to the SIPCOT Industrial Park and IT Expressway makes the locality a potential commercial hub in coming future. Nitin Gadkari, Union Minister for Road Transport, Highways and Shipping, recently announced that the ECR connecting Chennai and Kanyakumari would be developed as National Highway (NH). This announcement can be considered as a big driving factor for real estate investments in localities along the road. The Price of 2 bhk apartment for Sale in Kovalam is expected to grow rapidly in the coming days. Those days are not far away when the locality will be fully occupied with upcoming residential and commercial projects.

[sriyavenugopal]

Real Estate Market in Chitlapakkam-All Set to Boom

India, in recent times is seeing a rising trend in the real estate market and the growth was gradual since last 10 years. Increase in population, job opportunities and economic development has been a boon to the real estate sector. In addition to being the second major contributor to the GDP, the Real Estate sector is also among the fastest growing sectors in the Indian economy.

Real Estate as a matter of fact has always been an attractive investment option and with the additional support of the new rules and regulations by the government, it has resulted in significant growth in the residential Real Estate in India, in general and Chennai in particular.  The rising income level of the people and with people of all age groups investing in Real Estate, the residential sector is significantly expected to grow over the next decade.

Development of Chitlapakkam -

Chitlapakkam is a very fast-developing suburb, located about 7 km south from the Chennai International Airport. Chitlapakkam is a very well developed and well-established suburb. Chitlapakkam is a fast-developing part of the city, and many people from Chennai city have relocated there because of its green environment, water availability, and proximity to MEPZ & GST Road. 2 BHK apartments for sale in Chitlapakkam are highly desired by potential buyers due to many reasons such as:

Connectivity –

With the advent of mini buses connecting Chitlapakkam to Chrompet and to Tambaram and Tambaram Sanatorium railway station, connectivity has dramatically improved Introduction of shared autos have also proved very beneficial.

Infrastructure –

The neighbourhood is served by two Chennai Suburban Railway stations: Tambaram sanatorium and Chrompet. Road transport for this locality is catered by government-run MTC buses and private shared autos. The proposed Mono rail station at Camp Road junction which is 2 km away gives quick access to Vandalur Zoo on the one side and to Velachery in the other side.

Thus, the real estate boom in Chitlapakkam is due to a confluence of factors like abundant water supply, proximity to the IT companies, excellent quality of life and proximity to the city. As a result, 2 BHK Apartments for sale in Chitlapakkam is on the rise.

[sriyavenugopal]

Why You Should Invest In a Chrompet Property Today!

The locality of Chrompet is situated in southern Chennai, and the origins of its name go back to the 18th Century, when a certain Chrome Leather Company started its business here. Leather tanneries can still be found scattered around the area today. From the days of the Chrome Leather Company, Chrompet has been a popular choice as a residential property. As time passed, many commercial establishments found their way to the locality as well.

There are several reasons why Chrompet boasts of such great popularity within the real estate sector. Let’s look at a few in detail:

• Connectivity: No matter where you stay in the city, if there are connectivity issues, your life will be significantly hindered. Thankfully for people looking out for residences, Chrompet is very well connected to most of Chennai’s major areas. From entertainment zones to IT hubs, almost nothing in Chennai is too far from Chrompet. • Proximity to Airport: For home-owners or family members who have to travel around a lot, being situated close to the city’s primary airport is a boon. A 1 BHK apartment for sale in Chrompet ensures that you don’t have to wait long hours in the traffic to get to the airport. • Educational Institutes: One of the most acclaimed technical institutes of the entire country, Madras Institute of Technology, is based here. A lot of reputed schools and colleges catering to students of various educational backgrounds are also located in Chrompet. Some notable examples would be Olive Public International School, Srimathi Sundaravalli Memorial School and IRT Polytechnic College. • Multiple Hospitals: Healthcare-wise too, Chrompet is well equipped. Medical bodies like Chennai Krishna Hospital and Parvathy Hospital have been serving Chrompet residents successfully for years. A whole host of clinics and pharmacies are scattered around the locality as well.

The Future Investing in 1 BHK apartments for sale in Chrompet is definitely a masterstroke at this point of time. The future bodes quite well for the area, with a vehicular subway project expected to be completed in a matter of years. This project will further improve the state of traffic in the area, which can get slightly congested at peak hours.

[sriyavenugopal]

Santhoshapuram- A Fast Growing Suburb in South Chennai

Owning a property in one of the popular city like Chennai is not only a dream of those living there but of almost everyone in the state. With property prices soaring in the heart of the city coupled with non-availability of land at the city centre, have led many home seekers to consider investing in the suburbs of Chennai. Well, suburbs towards the south of Chennai are gaining momentum in this regard mainly due to the excellent connectivity they offer to the other parts of the state and to IT corridor.

Several areas in South Chennai have already developed and real estate market in these areas has been prospering well. These areas include Tambaram, Medavakkam, Pallikkaranai, Velachery, etc. Now, one area that is highly liveable and has all sorts of amenities in South Chennai is Santhoshapuram. Real estate in this suburb seems to be on the surge. More and more people are considering lands for sale in Santhoshapuram as a secondary investment.

Besides, lands at Santhoshapuram are available at affordable prices right now, and this may not be the case in the years to come. Investing in lands in Santhoshapuram seems to be a long term investment and one can construct a large luxurious independent house in the land bought today at an affordable cost in this area. Currently, the price of residential land in Santhoshapuram seems to be a reasonable INR 3880 per square feet.

For those who are looking forward to invest in flats, good news is that several builders are coming up with apartment complexes featuring a range of 1 BHK, 2 BHK and 3 BHK flats. To attract investors and home seekers, they are offering a range of modern amenities and facilities. 1 BHK flats in Santhoshapuram seem to be an ideal investment for the middle income group.

Since the corresponding builders are capable of arranging home loans for the buyers, this is definitely a ‘don’t miss’ opportunity for the middle class people. Home loans can be re-paid in easy monthly instalments. Besides, recently, the RBI has cut down the repo rate on home loans considerably and hence buying a home by availing a home loan is highly recommended by experts in the industry.

[sriyavenugopal]

Tambaram West – Continuous demand for residential properties

Tambaram, a suburb located in the southern region of Chennai is situated in the Kancheepuram District. It is known for its brilliant connectivity, infrastructure and real estate. Tambaram is a locality that has a mix of real estate use, that is, it has both commercial and residential properties. Tambaram is well connected to the rest of the city through rail and road. Tambaram houses a railway station that has divided Tambaram into East Tambaram and West Tambaram. The Chennai International Airport is in close proximity that is about 10 kms away.

Tambaram West is a well rounded locality and has good infrastructure. It houses schools, colleges, hospitals, retail stores, malls, hotels, restaurants, banks, ATMs, commercial offices and many more. Tambaram lies on the Grand Southern Trunk Road and Old Mahabalipuram Road and thus is in close proximity to the IT hubs and industrial corridor of Chennai. This has a major impact on the residential real estate sector and boosts the residential property demand of Tambaram locality as the people employed in these companies show interest in buying residential properties in Tambaram.

The developers are offering various flats in Tambaram West. There are flats range from 1 BHK, 2 BHK, 3 BHK and 4 BHK and are available for immediate possession and few are under construction. The developers offer flats with some really good amenities. Depending upon one’s budget and requirement, one can decide the flat one wants to buy. Regarding the property rates, the property rates in Tambaram West are lesser when compared to Tambaram East. Thus, if one thinks of buying a flat in Tambaram West, the decision of buying should be sooner than later as the prices are definitely going to appreciate.

Tambaram West turns out to be a good option for investment purpose as well. This is because the prices are a little lesser from the East and it would yield good returns on investment in the future. The demand for residential properties is from end users, investors and from people interested in occupying flats for rent. Thus, Tambaram West flats meet the different demands of every prospective buyer.

[sriyavenugopal]

Tips To Buy a Luxurious Property on a Tight Budget

As human beings we all have ambitions in our life. Some are professional, while the others are more personal in nature. Having an exclusive address in a swanky and upscale community is a dream; most of us nurture deep down in our hearts.  At times the dream may appear to be too farfetched, but at times the dream can become a reality with some below mentioned careful moves and timely steps.

Wait for the Correct Time to Take a Loan

A luxury home no doubt comes with a hefty price tag. If you are planning to buy a luxurious home on a shoe string budget, it would be wise to wait for the perfect time, to take a loan. There are several phases in a financial year, where a bank revises its lending rates. Having little patience can hold the key to your dream home. It has been observed that luxurious independent house for sale in Padur have shown less depreciation in comparison to all other sectors of real estate.

Look Out For Foreclosures

Foreclosure properties are basically those properties, which are being seized by the bank or lenders, because the borrower has been unable to pay back the loan. Such properties offer great opportunities for buyers looking an upscale Padur house for sale in Chennai. However, before you buy the property, be aware of the fact that these properties have been sitting idle in the market for quite some time. As a new buyer, you might be required to spend a considerable amount of money to renovate the property. Also before buying foreclosure properties, make sure you read the Bank Owned Addendum thoroughly.

Book an Under Construction Project

It is a well-known fact that under construction projects cost a lot less than finished projects. However, an investor in a under construction project stands the risk of being duped by the builder. Sometimes he is made to wait for an infinite amount of time to get the delivery. It is therefore suggested that you should buy such properties from reputed builders who believes in maintaining delivery deadlines.

If you follow these simple steps, buying a luxurious home in Chennai or anywhere else in India would no longer remain a farfetched dream for you.

[sriyavenugopal]

Buying 1 BHK Flats in Perumbakkam, A Wise Investment Decision

Chennai properties are performing well in terms of demand and price appreciation. The rapid development achieved in infrastructure and transport system has resulted in an increase in the demand for residential properties. The realty market in Chennai has not been influenced by the ongoing recessionary trends as it is the case with other cities.

While Chennai is the hot spot for many regions that are developing at a large scale in the realty sector, Perumbakkam properties are doing better than many of them. 1 BHK flats in Perumbakkam for sale are immediately booked owing to the number of advantages the location provides to its residents and investors. Perumbakkam, today, is totally different from what it has been before five years, in view of the rapid development infrastructural and transport facilities. A number of Real Estate and commercial activities have contributed to the boom in the realty sector in a short duration.

Dramatic Changes in the landscape of Perumbakkam

Perumbakkam which is adjacent to Medavakkam holds a big share of the futuristic Real Estate growth prospects of Chennai. As these two places focus on construction of large residential properties and modernized commercial buildings, the Government is also focusing on strengthening infrastructural development in Perumbakkam and Medavakkam. When social and physical infrastructure and connectivity are improved considerably, properties in Perumbakkam would attract better investment prospects.

Perumbakkam for Mid-range Properties

Although there is tremendous development in the suburbs of Chennai, Perumbakkam continues to house medium sized flats that are affordable by a large cross-section of buyers. The flats for sale in Perumbakkam, Chennai are thus the point of attraction in the Indian realty industry. Perumbakkam is growing at a faster rate and it is considered wise to invest in Perumbakkam 1 BHK flats for sale if you want to multiply your returns exponentially within the next decade. Growth of infrastructure on the outskirts of Chennai will further boost up the demand and pricing in this suburban region.

 As far the flats for sale in Chennai are concerned, the buyers have several options to choose from. For budget buyers, areas like Porur, Korukkupet, Thoraipakkam, Choolaimedu, Tambaram, Pallikaranai, and Guduvanchery are among the best options. The other budget options are Koyambedu, Perumbakkam, Avadi, and Navalur.

[sriyavenugopal]

Huge Demand for Urapakkam Flats

Urapakkam is the latest buzz in Chennai realty scenario and has become a hotspot for residential property investment in Chennai. Flats in Urapakkam are in fact setting a landmark change, especially along the busy National Highway 45 which is popularly called GST Road. Urapakkam is situated just 8 km from Tambaram; it is growing at a very fast pace. Uniquely recognized as a preferred residential spot, 3 BHK Flats in Urappakkam for Sale are known for their affordable rates. Nevertheless, the steady appreciation of capital values of properties in this area has resulted in an increased demand. Builders in the area quote that Urappakkam 3 BHK Flats for Sale are receiving a lot of enquiries from buyers.

Urapakkam is an area that serves as the epicentre with the Vandalur – Kelambakkam Road on the north, Singaperumal Koil –– Sriperumbudur Road to its west and the proximity it enjoys to these busy IT corridors. The massive number of employees working in the companies along these corridors has in fact paved way to builders flocking at Urapakkam, thanks to its affordability and proximity.

At Urapakkam, a wide range of choices are available for investors, ranging from single bedroom apartments to 2 BHK, 3 BHK and 4 BHK bedroom spacious apartments. The present property values seem to be at Rs. 3000 per square feet. Flats here fetch good rental income too. Sandwiched between Vandalur and Guduvanchery, Urapakkam is quiet providing quality living coupled with amenities of a bustling commercial locality.

Urapakkam’s civic amenities have enhanced drastically in order to accommodate the increasing number of occupants, and perhaps there is no lack of educational institutions. SRM University, Valliammal Engineering College and B S Abdul Rahman Institute of Science and Technology are located near Urapakkam. The area is well served by SETC buses with regular services connecting the area to other parts of the city and far away. The locale also houses a suburban railway station.

Nestled on the Golden Quadrilateral, NH 45, Urapakkam is well connected to all places including workplaces and educational institutions; besides, there is a healthy mix of recreation and entertainment as well as health care facilities.

[sriyavenugopal]

Why You Should Invest in Properties in Thiruvallur

It is a well known fact that Chennai is one of the prominent investment destinations in the country; the government has now taken several steps to increase the potential of the city and is working immensely towards it. The suburbs of the city are developing at a very fast pace currently and of the lot, Thiruvallur deserves a special mention. Thiruvallur is situated 42 km northwest of Chennai and is a developing residential corridor.

Over 90% of land parcels in Thiruvallur tend to be new properties. Most of these properties are permitted by the CMDA whereas others are agreed by DTCP. Several plots approved by Gram Panchayat are also provided in Thiruvallur.

What paves way for development in real estate market in Thiruvallur?

The presence of huge industries such as Electrical Industrial Estate, Ambattur Industrial Estate, SIPCOT Industrial Estate, and Petrochemical Industrial Estate has perhaps pushed the development of manufacturing and industrial set-ups in the area several years back which has fuelled the demand for Apartments in Thiruvallur for Sale. Therefore, it can be seen that Thiruvallur is emerging with backup of industrial growth.  

Though the rates are affordable in Thiruvallur, lack of expected infrastructure is in fact making end users turn away. However, the area is predicted to develop at a fast pace, especially in terms of infrastructure. Real estate market in Thiruvallur is the latest trend on the radar of a few property builders and has the capacity to emerge in the years to come. Moreover, the region also has a number of independent houses and individual villas ranging from Rs. 20 lakh onwards. Due to the low prices, Thiruvallur Apartments for Sale, are receiving many enquiries.

A few regions in Thiruvallur, close to the railway station, have started witnessing progression in residential properties; however, a majority of parts are yet to be occupied. Presently, many investors are thinking of investing in properties in the area. It is expected that prices of property will shoot in the upcoming years with a massive demand, making it a wise investment choice.

Therefore, for end users seeking for a property, Thiruvallur is an ultimate option.

[sriyavenugopal]

Thiruvanmiyur – A premium real estate hotspot in Chennai

Thiruvanmiyur has emerged as one of the most expensive and well-established localities of Chennai. The residential settlement here boasts some of the most posh localities of the city. Easy access to educational institutes, hospitals and tidal park has contributed in the development of the region in recent years. The rambling MTS Bus Terminal is also considered as one of the driving factors for the popularity and realty growth.  Prices of property are increasing at a fast pace and the demand is ever going through the roof. Experts believe that demand for residential properties in the locality will remain steady. Stabilization of IT Firms along with investments in automobile industry has attracted a huge number of investors to the city like never before.

The geographic location of Thiruvanmiyur acts as a catalyst and makes it a premium destination for real estate investment. Being at the junction of East Coast Road (ECR) and OMR (the IT Corridor), the outlook of the locality is very promising and investor oriented. The Chennai Metropolitan Development Authority has already started working on improving connectivity between the ECR and OMR to eradicate the traffic problem in Thiruvanmiyur. The facilities like MTS bus terminal and shared autos beyond the IT corridor make sure that residents can commute convenient to other major localities. People residing in the locality appreciate its superb connectivity with other areas and timely effectuation of infrastructural projects. Thiruvanmiyur is the most suitable locality for IT professionals and high net-worth individuals who are least bothered about higher monthly rentals.

Investing in Thiruvanmiyur is not profitable only for end users, but, investors also have a lot to gain. The concept of multi-storied has increased significantly.  Not only the price of 1BHK apartments in Thiruvanmiyur for sale is high, but the rental rates are also quite high. The area is categorized as one of those few regions which fall under the city limits and is experiencing growth in real sense. Thiruvanmiyur 1 bhk Apartments for Sale enjoy fairly developed social fabric with presence of restaurants, theaters, cafes, and shopping malls. Talking about price range, residential apartments sized 800-2500 sq ft are available in a price bracket of 80 Lakhs to 2.5 Crores. Home owners can earn a rental income of somewhere around ten to sixty thousand per month. Finally, it’s an evergreen locality with continual development from the prospect of demand and supply of real estate.

[sriyavenugopal]

Nerkundram - Luxurious living

The trend of luxurious apartments has evolved over the past few years mainly in the metro cities, like Chennai. The major reason for this trend to evolve is because there is a mix of crowd in Chennai and the end users today voice their opinion about their needs and are clear what they want, such as quality and luxury in living. Also, the buyers today do not have a problem paying a little extra as long as there is no compromise made in the apartment quality. So the developers have started building apartments that provide all the facilities that a luxurious villa offers. Also, building luxurious apartments bring better profits to the developers than villas. This is because hundreds of apartments are built in one plot rather than the limited few villas.

Usually the apartments that are of 3 BHK, 4 BHK and 5 BHK formats are considered to be in the luxurious side. Nerkundram is one such locality that offers luxurious apartments at affordable prices. Situated in the west of Chennai, Nerkundram is known for the evolution. Once considered in the outskirts of Chennai, today is an evitable part of Chennai. It is well connected to the city through GST road and has a direct connectivity to the railway station and also the airport. It is well known for the educational institutions situated in this locality. It also has retail stores, hospitals, banks and more in close proximity. There are a variety of options for 4 BHK and 3 BHK Apartments for Sale in Nerkundram.

To name a few facilities that are offered in these luxurious apartments are 24 hours security, power back up facility, service lift and common lift, closed parking, landscape gardens, swimming pool, gym, jogging / walking track, club house, outdoor sports courts, senior citizen area, children’s play area, convenience store, stationery store, medical store, steam and sauna and many more. With such facilities for the exteriors, there is no compromise on the interiors as well. Thus, Nerkundram 3 BHK Apartments for Sale is a good choice to make by both end users and also investors.

[sriyavenugopal]

Ways to Check if a Rental Property is in a Foreclosure

Chennai is a hotspot in the real estate market of the country as it has transformed itself into an IT hub. Added to this, you can find the development of many other industries which makes it a preferable destination for the local as well as the outsiders. Demand for residential area has increased leaps and bounds as the IT professionals prefer to stay in the nearby localities of the IT hub. As the main city has become very congested and expensive, people prefer to stay in the outskirts of Chennai.

Even individual house for sale in Padur and other areas are in great demand as these houses can be rented out. Rented houses are very much popular among the workers as they are affordable. Before staying in a rented house you need to know thoroughly about the legal issues related to the rented property

Ways to Check the Rental Property:

Foreclosure is something which haunts every person who lives in a rented house. You never know when you might get a notice of foreclosure for the rented house in which you are staying. You have to just move out of the rented house and to make the things worse; you have to forget the advance money you have paid.  To be safe ensure the following facts before renting a house:

• First step is to cross check with register office of the area in which the property is situated. • Request the staff to allow you to go through the title file related to the property you are planning to rent. This can help you to identify if the owner of the house has any outstanding liens or any other debts. • You must confirm who the owner of the property is and also make a list of those who maintain alien on the property. • Next step is to visit the clerk belonging to the local court of the area where the property is situated. • Give the name of the property owner to the staff on duty and also the names of the lien holders. It is the court’s clerk who can give you the correct information whether there are foreclosure proceedings for that particular property.

So before renting a house near Padur or any area cross check with the nearby authority.

[sriyavenugopal]

Affordable 1 BHK Flats in Thiruvallur

Chennai has been reckoned as one of the best cities to live in India because of many factors; some of the important factors include the social, medical and economic security that is made available to the residents. South Chennai offers better options for home buyers including 1 BHK flats for sale in Thiruvallur as compared to other regions. A typical one-room BHK starts around Rs. 10 lakh and goes as high as Rs. 45 lakh. The other localities with comparable price ranges (10-20 lakh for 1 BHK flat) are Thiruvallur, Avadi, Chromepet, Nallabakkam, Pallikaranai, Tambaram, and Madipakkam.

For those buyers with lower income and who are searching for apartments in Chennai at lower rates, the Northern region is the most ideal place. Flats ranging between Rs. 10-20 lakh can easily be availed in localities like Kolathur, Thirumullaivoyal, Avadi, Thiruvakkadu, Vanagaram, and Thiruvallur.

Chennai's suburban, also known as the micro-market, includes several hot spots; some of the popular locations include Sriperumbudur, Thiruvallur, ECR, OMR and Oragadam. These places are now filled with some of the main residential projects and townships in Chennai as they provide serene and peaceful environments to its residents. These micro markets made them not only suitable for living conditions but also a place for their investment, which could provide better appreciation in recent future. The land in Thiruvallur is getting more importance nowadays due to the various facilities available in the surrounding area.

Chennai residential realty prospects • Residential real estate market in Chennai is having a better growth rate. The main reason for this is because of the MNC companies which offer lucrative pay package for their employees. • Individuals are keen on investing in the residential property in Chennai as the job opportunities are growing in this city leading to the increase in the price of the property. • As compared to the main areas, plots and properties in the suburban areas are affordable; for example, Thiruvallur 1 BHK flats for sale are getting more enquiries. • People who buy a home from the prestigious builders can live in the luxurious apartments or can rent out and gain high income. • People who buy a home at major suburbs like Thiruvallur can get high returns on investments and can lead a comfortable living without any issues.

[sriyavenugopal]

Nanmangalam – A well rounded locality for living

Nanmangalam is located in the South of Chennai. Nanmangalam Reserved Forest is located in this area which is an asset as there is a lush green atmosphere which makes a haven like environment from the rest of the city. The locality has a brilliant infrastructure as it is well surrounded by hotels, restaurants, schools, hospitals, banks, convenience stores, ATM and many more. Nanmangalam is well connected because of the east coast road and also grand southern trunk road. Apart from that it is close to the International Airport which is a huge advantage. It has direct connectivity to Chennai Central and also the other localities of Chennai.  

One major advantage of Nanmangalam is that Velachery is in close proximity to this locality. Also, Phoenix Market City located in Velachery is close by Nanmangalam, thus creating a shopping destination for many. Velachery is considered to be one of the best localities of Chennai. Also, the IT Park is in close proximity which is again beneficial for the locality. Thus the development in the nearby localities would reflect in great ways especially in regard with the real estate.

The real estate demand has been upwards for a while now. The property prices of Nanmangalam are lesser in comparison to Velachery. Thus for those who cannot afford a property in Velachery but wish to own a property around it, Nanmangalam is definitely a good option to consider as there are affordable Nanmangalam apartments, villas and independent houses available. The demand for apartments in Nanmangalam is higher than the other formats of properties available.

Apartments are available from a 1 BHK, 2 BHK, 3 BHK and a 4 BHK. 1 BHK and 2 BHK apartments are usually the comfortable ones that are targeted towards the middle segment of the people. The 3 BHK and 4 BHK apartments are the comfortable, spacious and more towards the luxurious aspect of living. This definitely is a good location for investment as well because the prices of the properties over the past few years is only appreciating and one can see the same trend of growth even in the future.

[sriyavenugopal]

Ten Real Estate Jargons Thatare Important to Know

South Chennai has seen immense growth in the real estate market due to development of various MNCs and infrastructure. South Chennai is well connected to the main city and to the IT hubs, making it easy for the people to commute. All these facilities makes it a lucrative destination for the investors and home buyers. As plots are also available, your dream of building an independent house in Santhoshapuram is very much feasible. While buying a home, you only need to deal with the various real estate jargons and finalise the contract.

When you start looking up for a house and visit the real estate offices you come across various terms which may really give you a tough time.

Here is a list of ten such real estate jargons which can make things easier for you.

1. Carpet Area: Carpet area is the exact usable area inside the house. It is area which is calculated from the inner wall to wall and also includes the staircase, if any.

2. Built-up Area: Along with the carpet area, this includes the area of the walls of your house  and is generally 10 % more that the carpet area.

3. Super Built-up Area: It is the sum of the built-up area and the common space like staircase, corridor club house, etc. It is generally 25% more than the built –up area.

4. Loading: It is the difference between carpet area and buit-up area.

5. Stamp Duty: This the tax you need to pay to the Government when you buy a property.

6. Registration Fee: This you have to pay, whn you buy a house, for example, if you select a property from Santhoshapuram house sale, you need to register the property. The Government charges an amount for processing the registration of the property sale document.

7. Freehold: It is a completely exclusive right to own a land for an indefinite period of time.

8. Leasehold: It is your right to possess a property for a fixed period of time.

9. FSI/FAR: Floor Space Index and Floor Area Ratio are same as it represents the ratio obtained by dividing the gross floor area with the total size of land where your house stands.

10. Stilt Parking: A parking with a roof over it is termed as stilt parking in the real estate terms.

Know the in and out of these terms to get a clear view of your property.