Land has for long been amongst the most prized pocessions of humans. From time immemorial, wars have been fought to secure territory and achieve superiority.
Chennai is one of the main metros of India and is home to a broad spectrum of industries and services. With increasing commercialization, the value for apartments and villas has increased manifold. However, all construction is possible only when there is land. Over the past few years, land value has sky-rocketed in Chennai. Nowadays there is no land for development in the main city and the focus is slowly shifting to the suburbs.
While in early 2000, the land value in some of the suburbs was at around 500 rupees per square feet, it has now come in the range of about 3000 rupees per square feet. This kind of appreciation can only be called as phenomenal.
Further, with the expansion of the Chennai metropolitan area and the Chennai corporation, the infrastructure development is picking up. Naturally, any infrastructure development leads to an appreciation in land value, since accessibility and other factors for living increase monumentally. Expansion by manufacturing industries and services like software companies only adds more momentum. The Metro rail project has also positively impacted the price and land availability in the main heart of the city is scare. Suburbs have a head start in the category of investment, since they are relatively serene, come at affordable prices.
Transactions in Chennai are governed more by end customers, than by speculators. Further, there is a lot of interest in this area from high net worth individuals and NRIs. The interest has mainly been stimulated due to the fact that a stable growth outlook is assured and that sustained returns are guaranteed.
It is true fact that within the years 2009 to 2010, the Chennai property market has seen red hot expansion and the appreciation have touched over 150% cumulatively. Considering all of the above, it is the right time to invest in land and Ashok Nandhavanam is here to make your dreams come true.