The best time to invest
One might see various promotions and advertisements regarding new flats for sale in T. Nagar, Kodambakkam, Perumbakkam, OMR and ECR areas. Since there is a lot of supply, people tend to miss even the best deal that is in front of their eyes and forego their dream home.
Though there are many such new flats in T. Nagar, Perumbakkam, Kodambakkam and other areas, one should be careful and find out if the timing is good to invest. If you are an investor then now is a good time to invest in Chennai real estate market as the prices have been seeing an upward trend in the last quarter.
Funding is no longer an issue if you are looking at investing in properties. The Reserve Bank of India's (RBI) reduction of policy rates by 50 basis points has made banks cut interest rates. Financial institutions are more open to aiding buyers in this respect. With financial institutions inkling towards buyers, this festive season can be a good time to buy your dream home. The prices have come down to their best and may rise anytime soon. Buy your dream home today and get the greatest appreciation in the next coming years. The periphery of Chennai has a wider scope of development during the coming time. Areas such as Medavakkam, Perumbakkam, Old Mahabalipuram Road and the Grand Southern Trunk Road might be some of the best places to invest in future; the reason being proximity to workplaces which are the various IT companies and industrial hubs located close to these areas.
Some people might feel that since the market is low investment is not a great idea. But, contrary to this belief, investing now will yield a higher rate of appreciation in few years which is a good thing from futuristic point of view.