Chengalpattu Land Investments Growing At A Fast Pace: An Overview
Chengalpattu Land Investments Growing At A Fast Pace: An Overview
Rapid Urbanisation
At what point in its
development cycle does a suburb become a full-fledged urban hub? If you take
Chengalpattu as a case study for this assessment, you’d probably be inclined to
say it’s when the city diversifies into a place that feels like a long-term home
for the average resident.
In that regard, what was
once a satellite town on Chennai’s outskirts has evolved into a bustling nexus
of industrial and residential significance. A major driving force behind this
expansion is the boom in land investments within Chengalpattu’s approximately 6
sq. km. of real estate area.
Chengalpattu
Homes: The Current Scenario
If there’s inherent demand
for land investment in Chengalpattu, perhaps looking over to the supply end of
the equation can elucidate matters.
A survey by Cushman and
Wakefield showed that Chengalpattu’s Mahindra Nova saw a consistent surge in
pricing from ₹2800-3500/sq. ft. through its lifecycle, selling out in record
time for a property in that locality. What makes Chengalpattu’s real estate sector
ticking like clockwork?
A multitude of factors
contribute to Chengalpattu’s rising popularity among prospective homebuyers.
Some of these include:
- Location & proximity
to arterial road, rail and air hubs
in Chennai
- Meticulous urban
planning and infrastructure development within the city
- Ideal balance between
city-scale facilities and small town charm
These broad strokes
outline the innate appeal of prime real estate investment prospects in the
Chengalpattu area. Let’s look at the factors under a finer lens for a better
understanding of Chengalpattu’s concurrent real estate landscape.
Work
Opportunities
Around 40,000
working-class individuals call Chengalpattu home in some capacity. For them,
the biggest draw for pitching their tents in Chengalpattu is the ease of
commute to their respective places of work. Add to that an abundant repertoire
of quality-of-life amenities like green spaces and multi-specialty hospitals
and it becomes crystal-clear why Chengalpattu real estate investment is on the rise
among the working class.
Steady
ROI Quotient
Despite a steady uptick in
the base asking rate for Chengalpattu properties, the underlying demand is
unwavering. Why? The answer is cut and dry: it’s the reliable return on investment on properties from
villas to apartments. Compared to Chennai city, Chengalpattu’s real estate
prices are markedly easier on the wallet, while offering a comparable range and
calibre of amenities at that price point. This trend further bolsters real estatedemand in Chengalpattu, especially compared to other similar suburban markets
in the Chennai area.
Healthcare & Education Services
In recent times, the two
biggest deal breakers for house hunters in the Chennai belt are proper
healthcare services in case of emergencies, and quality education for the
younger demographic.
Chengalpattu offers an
optimum balance of services across a wide spectrum of educational needs, with
many prominent institutions like Karpaga Vinayaga Educational Group being based
in the town itself. Additionally, medical facilities like the Chengalpattu
Government Hospital are a feather in the town’s cap, rounding out its stellar
amenities.
Ideal
Investments
All the surrounding real
estate investment factors point towards the same promising trend: Chengalpattureal estate investment is at an all-time peak, with no signs of slowing down
anytime soon. The question is, would you want to stake your claim on a patch of
Chengalpattu real estate?