Chennai’s rental market is attracting a large number of people from various parts of the country. It is very good in the facilities and prices. It is the cheap and best market that is luring the people from different parts of the city. Nearly 75 % of the splendid localities in the city observed high rise in the average rental values. On other hand, nearly 43 % hot localities witnessed a surge in the average sale price of the assets.
The preceding trends and strategies show that the rental markets observing low transaction volumes normally push rental demand for the lavish properties. It has a positive impact on the rental return on the speculation. The potential investors who are planning to purchase ready to move in the property on loan and rent it out would advantage in such type of scenarios where rental values goes up and sale price endures.
Porur in the suburban part and Chromepet in South Chennai of the urban are the perfect examples, which have observed the maximum rise in the average rental values by 10 % in the previous one year. On other hand, average sale price has not observed any notable rise during the period. Steady demand for the lavish properties on the rent in Chromepet is majorly attributed to its splendid location along the GST and regular demand from working and IT professionals.
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