Real estate markets can be predicted to a vast extent but there still remains a risk factor. With floods in the recent past in Chennai, the market slowed down quite a bit but has again picked up momentum in the past couple of years. Now would be a great time to invest in property in Chennai. With increase in population due to developing IT parks, rental housing is of high demand in Chennai. You can find both budget apartments as well as luxury villas within the limits of the city. South Chennai is slowly turning into a residential hub. Great schools, hospitals, road connectivity and proximity to offices makes IT sector employees keen on investing in property in these areas. OMR is the city’s prime location and apartments here are in high demand. Due to overall development and starting of numerous housing projects, the real estate market in Chennai is not predicted to see any major setback in the coming years. So yes, it is considered to be the best time to find a home in Chennai or invest in residential property to rent out. Large scale housing projects of renowned builders have sprung up in different parts of the city. As an aftermath of the flood, many real estate projects are even promising to offer discounts in property prices in terms of per sq. ft. so that the situation gets back to normalcy and to attract maximum buyers. Since the real estate scenario in Chennai isn’t all that bright and has declined a bit, there are chances that house and apartment prices might go down in the next 3-5 years. There are a lot of unsold properties spread in various parts of the city. Sellers are willing to negotiate and expecting that the prices might shoot up again. The Shriram Group has built one of the widest scale and diverse housing projects in Magadu known as Shriram Divine City. The project is well connected through Outer Ring Road and Bangalore highway which is located in close proximity. Famous schools, colleges, hospitals and IT parks are located nearby. Maduravoyal–Port Expressway and the nearby Metro route connects the area to the major busy parts of the city. Spacious 2 BHK and 3 BHK apartments are up for sale at affordable rates of Rs. 3750 – 3950/ Sq. ft. As commuting becomes so convenient, IT employees are always eager to buy or rent out apartments in this area. With amenities like yoga centre, club house, garden, fully equipped gymnasium and swimming pool, living in Shriram Divine City is a dream come true for many. Developers today are offering all kinds of spaces ranging from 2 BHK flats to villas and duplex houses. You can find your dream home at a great price in the best localities of the city. Compare prices and look at the amenities being provided and find your perfect home.
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