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Property in Chennai invites for a lucrative invest
Property in Chennai invites for a lucrative invest

Located 24 kilometers south of Chennai is the suburb of Uthandi, home to sleek dwellings though not necessarily high rises, Uthandi is up and coming and beckons new residents. If you are looking for new projects in Chennai, then Uthandi certainly deserves some attention.

This suburb of Chennai is not as a full-fledged community as it has a poor social infrastructure and scores poorly on the livability index. It may however be an excellent location for investors who wish to park their money in a property for a few years and gain a handsome return on their investment in the future. Till date the locality is not yet a mature residential neighborhood and much of the property under construction and the proposed developments show a preference skewed towards the building of villas rather than apartments. Hence if the buyer is looking for an individual house for sale in Chennai and does not mind such a house to take the form of a villa then a property at Uthandi may be quite suitable for such a buyer.

As Uthandi has a skew towards the building of Villas rather than high rise residential developments, the price at the locality may show such a bias in the form of higher rates of property which hover close to 5,500 rupees per square foot even as the locality is poorly developed with regards to letting residents live with sufficient dignity. The price of property at the locality has regardless appreciated by a very modest 2% over the past 36 months, though for a time during this period prices here had appreciated by over 9% only to drop back down to their current level.

Over time the growth model underway at Uthandi may reward investors with greater returns than an investment in an apartment would. As the price of villas at Uthandi is already commanding rates comparable to apartments at fully fledged and densely populated localities, once comparable social infrastructure is made available at Uthandi (which is only a matter of time) the price appreciation at the location can be expected to be substantial.

In addition for someone who has a long term horizon with several years of service remaining, but is at the same time excited by the prospect of an individual house for sale in Chennai, purchasing a villa at Uthandi may be ideal as by the time the individual is ready to live in his or her own home all of the necessary infrastructure would be present as well.

The attraction of Uthandi may be similar to the attraction of many other suburbs a decade or two ago which have now blossomed into large commercial centers. As developers at Uthandi show a conscious effort towards a unique housing model based on villas rather than apartments, such a unique stance at a time when the only available option for many new home owners appears to be to live in apartments may result in the properties at Uthandi to be priced at a premium in the future.