Advertisement

Dream home in the growing towns in Kolathur and Mambalam, very close to Chennai City, India

01:45 PM Feb 07, 2020 |

Buying an apartment or individual house in Chennai, India is a great investment option for an actual buyer or investor. This is, especially happening in the last 10-year of time span. This city is undergoing rapid infrastructural development for accommodating the growing demand for IT and other Technical companies. This whole system is in the developmental stage at present and therefore it is opportune time to begin investing by Indian buyers as well as by NRI buyer.

Chennai is very much crowded as well as having a high price range of real estate projects. So, it may not be suitable for many buyers. Therefore one has to explore the nearby areas in Chennai or outside Chennai. This is possible with areas like Mambalam and Kolathur. These two areas or very near to Chennai's main city and well connected as well. The future of real estate projects is very bright there because Mambalam is only 8 km from Chennai city and Kolathur is only at 11 km from Chennai city. House for rent in west Mambalam is also available.

Advertisement
Advertisement

Real Estate- the Wisest Option to invest:

Advertisement

With the maximum developments happening over the Chennai city, India in the upcoming years and there is no turning back for the face of real estate in Chennai surrounding areas like Mambalam and Kolathur.

Most of the areas in Mambalam and Kolathur are fast developing irrespective of location and are attaining maximum resale value. This holistic approach of the sector is benefiting both the builders and also the residents of the Chennai city. Many NRI form Chennai are always willing to have their own house in or around their own home town in their own country India.

Benefits of the investment in Kolathur and Mambalam real estate project:

Starting from the different options which are provided by the builders of Kolathur and Mambalam with different price ranges to the types of individual houses and apartments. Undoubtedly, the flexibility that is offered by the real estate industry there is vast.

Coming to the benefits, this investment has an upper hand over any other investments due to factors as:

• Better and best immediate returns in terms of rentals income in India.

• Great resale value without any compromise due to consistent property growth.

• Vast opportunity for appreciation over the short period of time.

• Best apartments in Kolathur and Mambalam with best construction techniques and amenities.

Therefore, the choice of real estate is always the best when compared to other investments. So all the buyers especially NRI buyers are always suggested to opt for buying apartments in these locations nearby Chennai, India. These are also within their budget and having maximum returns.

Demand factors in the real estate sector in the coming time:

The market will always be more stable due to genuine buyers and fewer speculators compared with the other cities. By this logic, all investments will grow slowly but steadily over a long period of around 10 years. The demand of housing property will definitely increase with the time due to more attraction and less opportunity in the main Chennai city.

Builders and land promoters prefer to sell their projects in locations which are well known and easy to the market. This means fast growth is a must for attracting the buyer. This is true for the Mambalam and Kolathur areas. Also, the need of an individual house for sale in Kolathur is increasing with time.

Housing opportunities in Kolathur:

The housing property rates in Kolathur, Chennai, India keep changing and if an investor wants to maximize the profit they need to act according to the market movement. The price trends will help a property stakeholder to look at the ever-changing property prices in Chennai and its corresponding Kolathur area. The price of these properties in Kolathur starts from Rs. 11 lacs and the average price of properties in Kolathur is Rs. 65-70 lacs. Therefore the price range of housing properties in the Kolathur is Rs. 10 lacs to Rs. 3.50 crore. People are in continuous search for the individual house for sale in Kolathur area.

Some cream locations for housing projects in Kolathur are:

• Anthony Nagar

• Lakshmipuram

• Vijay Nagar

• Senthil Nagar

• Ashoka Nagar

• Velavan Nagar

• Vetri Nagar

Housing opportunities in West Mambalam:

Flats in Chennai starting from around Rs. 22 lacs. The average cost of standalone housing property in West Mambalam isRs. 1.80 crore. Apart from searching the under-construction properties in Chennai city one can also use our interactive interface to find ready-to move-in properties in West Mambalam. On the actual site, end-users can use the map and list out the features to find and sort the desired budget and luxury apartments in West Mambalam easily. Due to very close to Chennai, India apartments for sale in chennai is also in high demand. Some cream locations for housing projects in West Mambalam, Chennai, India are:

• Saranalaya

• Ramakrishnapuram

• Kasi Viswanathar Colony,

• Vivekanandapuram

• ReddiKuppam

Purchase of property by NRI:

Every NRI is having a wish for its own permanent property in India. They may have any number of property in India without any restrictions, maybe for own purpose or for investment purpose. Therefore they can purchase as many residential as well as commercial properties in India as they want. But there is a restriction on foreign investment when it comes to agricultural land, plantation property or a kind of farmhouse. Such properties are allowed only in the case when they are inherited or gifted to the NRI.

Financial transactions and funding for NRI:

For any property investment in India, all the transactions are only allowed in Indian currency and through Indian banks. One of the essentials is to have an NRI account in an authorized Indian bank. An NRI can easily get funding for the purchase if they are having required papers and documents. Also, there are several NRI home loan schemes available under different financial institutions in India. If someone is getting the property funded make sure that they have a minimum of 20% of the value of the property to invest from their own sources. They can take funding for a maximum of 80% of the value of the property.

(To view our epaper please Read Now. For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Tags : ,Dream home,towns,Mambalam,Kolathur,Chennai City,India
Advertisement