I am recording my views on Chennai real estate. I dont claim myself an expert and an avid follower of the trend.
Chennai has become a lovely hub of industrialisation over past 15-22 years... be it automobile, IT, manufacturing or one can consider even colleges as business houses :)
Due to the strong availability of educated, graduated youth lot of companies started setting up shop in chennai. Disadvantage - Sweat Climate, yellowish water. Barring that Chennai, had everything going in its way.
Thankfully, those got ignored post 2003 and Chennai zoomed and was leading contributor in job creation over last decade.
Chennai is very wide - OMR, Kelambakkam on one side... maraimalai nagar on other side... till Sriperumpudhur, Ranipet on third side.... Fourth side lead to Andhra pradesh !
Where to buy is the mute question ?
OMR, Maraimalai Nagar and Sriperumpudur looks good for investment opportunity. Why ? Employed people are out in full strength in those localities ! Strictly for Flats with rental income opportunity !
But my bet for next 10-18 years is on Coimbatore ! Fine city, nicely connected, decent climate and easy water and where the India's F3 car made with Maruti 800 CC Engline ! It is a place to spend after your active life / retirement than Chennai.
I predict a respectable job creation in Coimbatore. Be there to grab the opportunity and start eyeing the lands !
Good one as usual! Agree with the Coimbatore story, spent my college life there in PSG and it is a very beautiful place to settle in. In long term perspective, as you mentioned in 10 to 18 years it will be a great city and retirement life could be peaceful there. I remember my professor saying that he traveled across all his career and now settled in Coimbatore as he feels that distance from land to heaven is shortest there:-)
ReplyDeleteThanx Faruk for the kind words. I visited CBE during last x-mas for two days and liked it immensely.
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