Real Estate: Investment Properties in Chennai

By: George Gonigal

Chennai real estate market is emerging as a profitable real estate destination with its return generating capacity. The development attained by the city in the recent years has attracted many national as well as foreign investors to it.

With the latest trend of all big corporate, IT/ITeS establishing their campuses in the city, the demand for real estate development has heightened. In the coming year real estate development is required at large pace to meet up these demands and for the same investment is needed. Investment in Chennai is profitable because of low cost base which makes it attractive for NRI's and multinationals to relocate in the country, experts say.

Leading property developers and realty majors expect a high return from the investment being made in Chennai real estate market. Research studies project that investment yield will be around 5-7 per cent in residential sector, 10-12 per cent in office sector and 11-13 per cent in retail sector.

Investment interest is high in Chennai's satellite townships coming up in the outskirts of the city.

New Projects

? Eden Park from L&T South City projects, it is an integrated township project with an investment of over Rs 120 crore. Another is Project Estancia which is again a township project spreading over 78 acres of land and requires cost approximately 1,800 crore per acre.

? Sabari Foundation is also developing apartment complex at Siruseri. There will be around 310 apartments developed at an investment of Rs 180 crore.

? Other latest real estate projects which may prove profitable for investment purpose include: VGN Group-Mugappair, Sree Foundation-OMR IT Corridor, Balchandra builders-Medavakkam, Vasavi Builders-Perungudi, Citilights- Blessings.

is witnessing upswing these days in both commercial and residential sector and is estimated to escalate further when these ongoing projects will reach completion stage.

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