Why choose South Chennai over North for Property Investment?

Chennai, a place famous for temples and religion, also tops the list of India's popular tourist destination. The place have been known to fall under the list of major cities in the country, even when the prices of real estate have been fluctuating all over the country, it has been constant in Chennai and all the areas that comes under it. The lifestyle followed in the area, security reasons etc. has made it easier for people who are looking to spend their lives peacefully. Let us look at the area in detail,

Introduction

Those who have lived there, or have visited Chennai, know that the city is the best of both worlds. The two prime areas of the city: North and South Chennai are both very different from each other, while one is known as a posh residential centre; the other is an industrial centre. When the former is chic in look, the latter is remembered mainly for its native rustic, old-times charm. Therefore, the South and North areas of Chennai cannot be any more different both culturally and geographically. Because of urbanization plus growth, many of these inequalities are unseen and might no more appear true, still, you cannot ignore the difference in infrastructure developments between these two areas. While the South, without any doubt, appears to be the golden choice when it is to the residential real estate sector, problems such as bad infrastructure, poor roads, garbage disposal problems, etc are common in the northern part of the city, these issues in many cases, lower its progress.

Why is North Chennai not given much preference in properties?

While both North and South are parts of the same city, you must be wondering why only South Chennai is witnessed, the reasons for this are:

North Chennai originally has been the center for industrial plus warehousing services because of its closeness to the port. This area of Chennai has very newly seen infrastructure developments plus great worthy realty developments. The lack of good residential developments has also been the main reason for low real estate activity in this area.

The North, as compared to the South Chennai, does not have the comfort of a large space. Therefore, only re-growth establishments are probable in the area.

North Chennai is very less focused on SEZs and IT/ITes developed by the state and/ or the capital government. There is a common assumption that the Northern area is underdeveloped market and the investors might not gain valuation benefits in this area, as much as they do in the Southern portion.

For many builders in the city, the Northern area is an unappealing investment because they think that the purchasing capability there is pretty low plus the need for the luxury segment homes barely exists.

The basic facilities in the area like better roads, basic amenities such as water and garbage clearance and proper public transport are not present in the Northern part of the city presently.

Why South Chennai is preferred?

Asia's largest IT centre, forthcoming Mono rail, famous educational institutions, such as schools and colleges, efficiently planned residential places, wide roads and high water supply are a few of the several reasons why the residential market in the South of Chennai is growing as compared to the other areas of the city. The reasons why South Chennai is famous among property investors are the closeness to their offices, the efficiently planned residential developments that are present in the area and lastly the availability of water, hygiene etc. seeing the demand many renowned developers of the city are coming up with new projects in the area. If you too are looking to buy a house in Chennai, opt for the locality that meets both your present and future requirements. Although with time South has emerged as the better option, keep other things such as developer, locality, and your requirement, in general, as the deciding factors too.