How much are houses in Chennai?

Is it good to buy house in Chennai?

BUYING A HOME IS A GOOD INVESTMENT

The value of real estate in Chennai and in most other parts of the world increases overtime, because land gets scarcer, so this means when you buy property in Chennai today, its value is likely to be worth a lot more in the future, than it was when you purchased it.

Which place is best to buy house in Chennai?

Korattur. Growing from a small village to an urban mainstream locality, Korattur is one of the best places to buy property in Chennai. The area has shown a massive improvement in the residential housing segment, transport facilities, educational institutes, and healthcare.

How can I buy a flat in Chennai?

To help you with the process, here is a guide for buying flats in Chennai:

  1. Find the Perfect Property. …
  2. Do a Background Check. …
  3. Know the Payment Plan. …
  4. Apply for loan. …
  5. Get the Allotment letter. …
  6. Sale Agreement. …
  7. Possession and Registration.
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Which area in Chennai is developing fast?

Pallikaranai

One of the fastest growing residential areas in India, Pallikaranai is a hot favourite destination for investors. Located in South Chennai, the locality is in close proximity to the OMR (Old Mahabalipuram Road), which is one of Chennai’s biggest IT/ITeS corridors.

What is the price of 1 square feet?

What’s The Average Price Per Square Foot? The average price per square foot of a home is the cost or current market value of a home divided by the square footage of the home. According to recent data, the average price per square foot in the U.S. is $123, but this number varies widely.

What is the best age to buy a house?

The median age for first-time homebuyers in 2017 was 32, according to the National Association of Realtors. The best age to buy is when you can comfortably afford the payments, tackle any unexpected repairs, and live in the home long enough to cover the costs of buying and selling a home.

What is the right time to buy a house?

Typically, the best time of year to buy a home is in the early fall. Families have already settled into new homes before the school year started. But the number of properties on the market is still relatively high compared to other times of the year, and sellers can be eager to sell.

Which is the best place to invest in Chennai?

Best Place for Real Estate Investment in Chennai

  • Mogappair: Mogappair is located in the center of the city. …
  • Manapakkam: Manapakkam is one of the places to visit in Chennai. …
  • Pallavaram: Affordable prices currently especially considering the growth curve expected. …
  • OMR: …
  • Mangadu:
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Which is the richest area in Chennai?

8 of the Poshest Localities of Chennai

  • Boat Club. The Boat Club area is in Alwarpet and is one of the most expensive localities in Chennai. …
  • Poes Garden. Poes Garden is another top end locality of the city. …
  • East Coast Road. …
  • Nungambakkam. …
  • Velachery. …
  • Adyar. …
  • Gopalapuram. …
  • Besant Nagar.

Which is the best area to live in Chennai?

Here are our top five neighbourhoods to live in Chennai.

  • Teynampet. Teynampet is one of the busiest commercial areas in Chennai and derives its name from the vast swathes of coconut groves that used to exist here. …
  • Adyar. …
  • Tambaram. …
  • Nungambakkam. …
  • Anna Nagar.

Who is the best builder in Chennai?

Top Builders in Chennai

Builder Experience Total Projects
Godrej Properties 31 yrs 145 Projects
Tata Value Homes 11 yrs 18 Projects
Brigade Group 35 yrs 77 Projects
Akshaya Homes 26 yrs 37 Projects

Is it worth buying 20 year old flat in Chennai?

By the end of 20 years you would end up paying 1 crore Rs for an apartment which is not worth it. Since the appreciation is low for apartments it wont worth 1 crore. Hence forget the apartment idea for investment sake. The only advantage is you get a tax benefit for 2.5 lakhs pa.

How much does it cost to buy a flat in Chennai?

Property Rates & Price Trends in Chennai – 2020

Locality Name Buy Rates
Price range per sqft Price rise
Medavakkam 560 – 6,820 / sqft -16%
Porur 2,375 – 10,832 / sqft 32.9%
Madipakkam 3,600 – 11,079 / sqft 31.5%
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How can I save money to buy a house in Chennai?

Part 2 – Get your Finances ready and apply for a Home Loan

  1. Check your CIBIL credit score. This should be the very first step. …
  2. Pay off other pending loans. …
  3. Limit your credit cards. …
  4. Start saving money. …
  5. Stay steady at your job. …
  6. Decide on a Home Budget. …
  7. Get your home loan documents in order. …
  8. Get pre approved for a home loan.
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