Investing in ready-to-move apartments in Chennai offers numerous advantages for homebuyers seeking immediate possession and a hassle-free experience. Here’s an overview of the benefits, current market trends, and prime locations to consider:
Benefits of Ready-to-Move Apartments
- Immediate Possession: Move in right after the purchase, eliminating waiting periods associated with under-construction properties.
- What You See Is What You Get: Inspect the actual property before buying, ensuring it meets your expectations in terms of quality and amenities.
- No Risk of Delays: Avoid uncertainties related to construction timelines, ensuring your investment is secure.
- Tax Benefits: Purchasing a ready-to-move property can offer tax advantages, as Goods and Services Tax (GST) is not applicable, potentially reducing the overall cost.
Immediate Rental Income: For investors, these properties can be rented out immediately, providing a swift return on investment.
Chennai Real Estate Market Trends
- Price Appreciation: Chennai’s real estate market has witnessed a 12% annual growth in average residential prices, increasing from ₹5,315 per sq ft in 2022 to ₹5,950 per sq ft in 2023.
Demand and Supply: The city experienced a 34% growth in housing sales, with units sold rising from 16,100 in 2022 to nearly 21,630 in 2023.
Prime Locations for Ready-to-Move Apartments in Chennai
- Old Mahabalipuram Road (OMR): Ideal for IT professionals due to its proximity to tech parks and modern infrastructure.
- Porur: A rapidly developing hub with excellent connectivity to key parts of Chennai.
- Velachery and Adyar: Well-established neighborhoods offering robust infrastructure and amenities.
- Tambaram and GST Road: Affordable options with good transportation links, making them attractive for families and professionals alike.
Choosing a ready-to-move apartment in Chennai ensures a seamless transition into your new home, with the added benefits of financial savings and immediate utility. Whether you’re a first-time homebuyer or an investor, these properties offer a compelling opportunity in a thriving real estate market.
