Why Several Future Homebuyers Are Investing In Peripheral Areas in Chennai OMR For Bigger Homes?
The city of Chennai is one that has been on several home buyer’s radars for many a decade now. A bustling metropolis that is one of the biggest and most important cities of Southern India, Chennai happens to be a city that many Indians dream of buying a home in. After all, it offers the best of both worlds – Chennai is an urban locale that boasts of opportunity, prosperity and convenience, while also having its roots in culture, tradition and lots of natural beauty.
Home buyers from far and wide recognise Chennai’s uniqueness, and that is why flats for sale in Chennai tend to be quite pricey. Chennai’s real estate market is one that is growing at lightning speed, and certain homes in the heart of the city have truly lofty price tags that can render the whole area quite expensive. Areas like Adyar, Anna Nagar, Kotturpuram, Mylapore and R.A Puram are amongst the most posh localities in the city, and it is now understood that people interested in buying reasonably priced homes must now start to look beyond these areas as well. Thankfully, there are options galore for those who want to buy their first homes, or are looking to invest in a property that gives you a great rate of return. The best options in Chennai when it comes to buying relatively affordable, but still luxurious homes, are all in the peripheral area of the Old Mahabalipuram Road, also known as OMR.
The Old Mahabalipuram Road, now known as the Rajiv Gandhi Salai is a 45 km stretch of road that covers the areas between the Madhya Kailash Temple in South-East Chennai, to Kelambakkam, near Mahabalipuram. It stretches along the Northern and the Southernmost suburbs of Chennai, and it has a lot of upcoming and ready real estate projects along its length, by trusted and reputed builders such as the House of Hiranandani. OMR is also extremely accessible when it comes to air travel.
Several future homebuyers are considering the peripheral regions of the OMR to buy homes, for the following reasons, apart from just price:
Sea Facing Homes At Great Prices
Many of us dream of owning a sea facing home that allows you to take in tranquil ocean views on a daily basis. OMR being a semi-coastal road has a lot of real estate projects that let you buy a sea facing home at super reasonable rates!
Proximity To IT And Tech Parks
SIPCOT IT park, Siruseri tech park and even the TIDEL park are all located along the OMR. If you work in the tech sphere, living along the OMR is the perfect way to go for you. Moreover, the springing up of tech parks and offices basically means rising demand for habitation in the area. This makes OMR an awesome long term investment for home buyers, as prices are bound to rise in due course.
OMR is an extremely accessible stretch of road. There are several arterial roads that connect the different parts of OMR with other areas in the city. Moreover, Chennai is already quite accessible as it is, with the presence of internal railways, the Chennai metro, and a robust roadways system, full of cabs and auto rickshaws. Buying a home in the OMR regions, even if it is in the peripheral regions, does not mean inaccessibility. As Chennai becomes more and more accessible with the newly proposed railway lines and metro routes, rates for properties in the peripheral regions of OMR are bound to increase.
Bigger Homes, Better Prices
As the peripheral regions of the OMR are by default located far from the centre of Chennai, the flats for sale in OMR tend to be much more roomy and spacious compared to the homes in the city. You therefore get much better value for money when you buy a home in the OMR region, and with all the opportunities for growth, this makes OMR an even better investment for future home buyers.
Superior Returns on Investment
OMR as an area is still up and coming. If you were to purchase a home in OMR today, you can bet that it will definitely appreciate in value, in the years to come. This makes the OMR region a great investment option for the first time homebuyer, and even for seasoned investors. Moreover, when you buy a property with the House of Hiranandani brand name, it is bound to bring great returns by leaps and bounds.
House of Hiranandani has lots of luxurious yet reasonably priced projects that you can invest in, if you plan to buy a property in the peripheral areas of OMR. Buying an apartment in an upcoming area is always a favorable option, especially since there is great scope for growth. Opt for a trusted and reputed builder, like House of Hiranandani, to make sure you get favorable rates of return on your investments.