Tambaram,
a suburb of Chennai has become one of the busy localities of the city
within few years of time with advancement in terms of connectivity and
civic infrastructure. With real estate focus shifted to this region, the
favourite IT residential location has now turned to be a posh locality
with villas and independent luxury houses catering the NRI crowd and
HNIs.
About the Locality
Tambaram is actually a satellite city located 27 kms away from Chennai over the Chennai-Trichy national highway. Tambaram is widely preferred by IT professionals as the area has many IT companies and the East Tambaram bypass road. The area has good transport facility through the Tambaram railway station and roadway connections. Tambaram is described as the gateway of Chennai city.
Price Trend in Tambaram
According
to experts, the Non Residential Indians (NRI) invests their money in
real estate properties from metro cities or their hometown including
Tier II and III cities. In Chennai, Tambaram has become the new
preferred destination for NRI and HNI property investments. This is due
to the increasing villas and multistory residential projects catering
the property needs of all home buyers. The independent house values in
core Tambaram ranges between Rs. 4200 to Rs. 4300 per sq ft of area. A
villa with 2 BHK duplex build configuration in Tambaram is available at a
starting price of Rs. 70-75 lakh which is not possible inside the city.
The high income individuals working in the nearby IT hubs like OMR or
Siruseri prefer these villas for end use and some NRIs purchase the same
for investment purpose. However the multistory apartments are budget
friendly with a 2 BHK property available at Rs. 45 lakhs which will also
fetch good rental income. The multistory apartments and villas are
readily available in this region where as the Independent houses are
quiet rare. Mostly people buy residential plots and build individual
houses as per their need and lifestyle. The independent houses are
usually preferred by the NRIs as this is usually status related and also
good for investment.
Individual houses are preferred
The area is mainly filled with multistory apartments; out of 10 residential properties, 8 are multistory apartments in affordable budget. The villas and luxury independent houses are mainly seen in East Tambaram region which are usually resale properties. Apart from these, row houses in this locality have also gained some demand due to its less cost when compared to individual housing units. The individual houses in the gated community are high due to the additional amenities provided by the builder such as round the clock security, power back up, common area for indoor and outdoor games, swimming pools, clubhouse, party halls etc. Thus houses in gated community will have an additional price of Rs.5-10 lakhs for the amenities offered. NRIs mostly prefer properties in gated communities as they provide security for attended housing units.
If you are an NRI, looking for a property in Chennai as an investment option, then Tambaram is a perfect location offering a wide variety of properties from villas to multi-floor apartments, individual houses to studio apartment. You can check the construction approvals for new projects and property details in case of resale houses to avoid litigations in future.
About the Locality
Tambaram is actually a satellite city located 27 kms away from Chennai over the Chennai-Trichy national highway. Tambaram is widely preferred by IT professionals as the area has many IT companies and the East Tambaram bypass road. The area has good transport facility through the Tambaram railway station and roadway connections. Tambaram is described as the gateway of Chennai city.
Price Trend in Tambaram
According
to experts, the Non Residential Indians (NRI) invests their money in
real estate properties from metro cities or their hometown including
Tier II and III cities. In Chennai, Tambaram has become the new
preferred destination for NRI and HNI property investments. This is due
to the increasing villas and multistory residential projects catering
the property needs of all home buyers. The independent house values in
core Tambaram ranges between Rs. 4200 to Rs. 4300 per sq ft of area. A
villa with 2 BHK duplex build configuration in Tambaram is available at a
starting price of Rs. 70-75 lakh which is not possible inside the city.
The high income individuals working in the nearby IT hubs like OMR or
Siruseri prefer these villas for end use and some NRIs purchase the same
for investment purpose. However the multistory apartments are budget
friendly with a 2 BHK property available at Rs. 45 lakhs which will also
fetch good rental income. The multistory apartments and villas are
readily available in this region where as the Independent houses are
quiet rare. Mostly people buy residential plots and build individual
houses as per their need and lifestyle. The independent houses are
usually preferred by the NRIs as this is usually status related and also
good for investment.Individual houses are preferred
The area is mainly filled with multistory apartments; out of 10 residential properties, 8 are multistory apartments in affordable budget. The villas and luxury independent houses are mainly seen in East Tambaram region which are usually resale properties. Apart from these, row houses in this locality have also gained some demand due to its less cost when compared to individual housing units. The individual houses in the gated community are high due to the additional amenities provided by the builder such as round the clock security, power back up, common area for indoor and outdoor games, swimming pools, clubhouse, party halls etc. Thus houses in gated community will have an additional price of Rs.5-10 lakhs for the amenities offered. NRIs mostly prefer properties in gated communities as they provide security for attended housing units.
If you are an NRI, looking for a property in Chennai as an investment option, then Tambaram is a perfect location offering a wide variety of properties from villas to multi-floor apartments, individual houses to studio apartment. You can check the construction approvals for new projects and property details in case of resale houses to avoid litigations in future.
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