The real estate sector in India is a huge market. It has seen its share of ups and downs due to various factors. For example, economic swings, market demand, the political climate, purchasing power are some of the reasons that determine buying and selling in real estate. Real estate investment can take many forms. It can mean buying a plot of land, an apartment that is ready to move into or is in the process of completion, or buying constructed villas in key areas. However, each type of investment has its own pros and cons. So depending on the goal behind the investment, the choices will vary. It gives a sense of security and ofcourse, an elevated social status during important events. DTCP approved plots in Kancheepuram, Chengalpet and Walajabad have been on the rise.
Kancheepuram: The Next Big Deal?
Chennai is one of the hottest places for real estate developers and consumers alike. It is known for its well-connected transportation network, safety in general, and its strong cultural connection. Since Chennai locations are prime property and the prices are equally high, the surrounding areas such as Kancheepuram have come into prominence.
Such factors also dictate the real-estate trends. All these areas have been in high demand for both short-term investments as well as for the construction of properties. People across different age groups including those in their thirties and forties including senior citizens who have retired or nearing retirement seem to favor plots where they can build comfortable property and live their peacefully away from the city life. The land appreciation in Kancheepuram has also been tremendous due to the development of infrastructure including IT parks such as MPL Silicon Towers, TEK Meadows and other prominent projects that been mushrooming in this prominent temple district. This indicates a growth in employment opportunities, which is further expected to contribute to higher purchasing power. The international airport is also accessible.
As with any investment, investors considering buying plots in Kancheepuram should also verify that the plots are DTCP-approved, even if it is advertised as a DTCP approved plot. DTCP-approved plots have better resale value and are hence usually preferred. However, investors should keep in mind the time factor involved in the approval process. This can take a long time. An investment in a gated property is also a good choice since you get the entire deal. Full-time security, access to all basic amenities, and social status makes a gated community an obvious choice.