According to a recent global property report, the prices of mid-segment housing in Chennai rose by 27 per cent over the last three years. As property prices in Chennai move steadily northward, many prospective home buyers and investors are now looking beyond the popular suburbs of Chennai for more affordable districts. One such locality that has come up as an alternative real estate destination for affordable residential and commercial property is Ambattur.
Over the past few years, Ambattur has quickly developed from a quiet village into a bustling residential and commercial locality that was made a part of the Chennai corporation in 2011. Spread over 45 kilometres, Ambattur today is an auto ancillary hub with many IT companies also having offices in the locality. The Ambattur Industrial Estate, spread over 4.9 km is the biggest small scale industrial estate in South Asia and has attracted a lot of IT companies due to the lower rentals. With lease rentals of IT parks almost half of those in the city, there is a surge in the number of IT companies investing in commercial land for sale in Ambattur. Many IT companies have today invested in plots in Ambattur with an aim to strengthen their presence in southern India.
Driven by the easy availability of jobs and excellent strong road and rail connectivity linking centres like Tiruvallur, Perumbur, Anna Nagar and Vadapalani, an increasing number of people are looking to move to Ambattur. However, the main driving force for buyers are the lower capital values and the affordability factor. Homes in Ambattur are relatively cheaper compared to other parts of Chennai. Currently, the 2 BHK units in Ambattur start in the range of INR 30 – INR 40 lakhs and for 3 BHK units, the prices start at INR 40 lakhs. There is also abundant choice for those interested in investing in residential plots in Ambattur.
Some of the leading projects in Ambattur include Kochar Panchsheel – a project that has its own departmental store, ATM and clubhouse which is equipped with a gym, swimming pool, table tennis and more, Green Garden and Aishwarryam by Loyal Housing, and VGN Stafford. Besides offering buyers quality projects at affordable rates, Ambattur also boasts of a well-developed social infrastructure with schools, colleges, hospitals, bank, worship places – all knitted together to offer a quality lifestyle for residents of Ambattur.
It has been well proven that in corridors of significant job creation, affordable housing appreciates faster than any other real estate asset classes. Hence it can be expected that an investment made in residential property or commercial land for sale in Ambattur can fetch good returns in the future.
Source : Research Team , IndiaProperty