Introduction
With real estate markets of metropolitan cities nearing their saturation points, the Indian real estate sector is undergoing a shifting of base, that is a paradigm shift. Simply put, investors of today are moving towards untapped pockets of the country, and this has given rise to a spurt in demand for real estate in emerging and upcoming cities, and their intra-city micro-pockets.
In light of the paradigm shift, one of the cities that is witnessing a spurt in real estate demand is Chennai. With several upcoming new projects in Chennai, the real estate market is expected to move in the north (or upward) direction going forward.
About Chennai
Known for the engineering, manufacturing, and IT sectors, the city is regarded as the Detroit of India. Chennai is ranked as the 4th largest city of India and also features among the top 10 fastest growing cities in the world. These factors make Chennai a very attractive and lucrative real estate investment destination today.
In light of the recent advent of co-working spaces in the OMR region, the overall Southern pocket of Chennai has witnessed a considerable spurt in demand. In addition to creating tremendous employment and business opportunities, this has also brought a new work culture on the cohort. These aspects have led to a fleet of new flats for sale in Chennai
About OMR Chennai
OMR or Old Mahabalipuram Road is a 45-kilometers long arterial road in the Southern suburbs of Chennai.
Some of the key highlights that make OMR a real estate hotspot is that firstly, it houses major IT companies, regarded as the IT hub of the country, 2 bhk apartments in omr would reduce the commute time to and from the workplace to a considerable extent. The widespread connectivity offered through OMR and ECR not only ease commuting to and from the workplace but also across the city. In addition, the upcoming Chennai Metro will further streamline the connectivity and commute time.
In addition to the physical infrastructure and connectivity, the OMR region also has a strong social infrastructure. This is evident from the area’s arsenal of 20+ schools, 16+ hospitals, 20+ restaurants, and supermarkets, among others.
In addition, OMR has a 35% contribution towards new and upcoming launches of 2 bhk apartments in Chennai.
Takeaway
In sleuth of the aforementioned factors and developments, Chennai, especially the Southern region is an emerging and upcoming real estate hotspot. For those seeking luxury at affordable prices, the upcoming locality makes for an ideal fit for budgetary bills.
Share this article & your thoughts with us in the comments below!
