How to select the right locality for buying your home?
One of the prime factor to consider while you buy your dream home is the location of the property. The location of your house influences many factors like its price, the liveability index, the scope for property appreciation and the return on investment. It is important to analyse each of these factors individually and also with respect to each other to get select the most optimal locality for buying your house.
Property Price –
As an aspiring home buyer you would have prefixed a budget for investment. Consider locations where the prevailing price of properties is around your budget. However, do take into consideration the growth prospects of that location. Promising location which offers properties for a varied investment bucket should be considered. For example, apartments for sale in OMR come in different budget ranges and also promise great property appreciation considering the infrastructure growth, the numerous IT and ITes establishments, the abundant employment opportunities and the very swiftly developing social infrastructure.
Connectivity of a locality is an important liveability index. A place that offers good connectivity to the neighbourhood and offers easy access to work, schools, colleges, restaurants, market places, and shopping centres ensures convenient living for the residents of the locality. There are emerging micro-markets in Chennai which have excellent connectivity and also offer residential properties at a buyer friendly price. One such locality is the Old Mahabalipuram stretch. Right after the establishment of the Tidel Park in 2000 the 30 km stretch of OMR has witnessed tremendous growth and the increasing metro connectivity and other proposed schemes of development promises to improve the connectivity of this place –
- The construction of phase II of Chennai Metro Railways connecting Madhavaram to SIPCOT
- The proposed two-phase elevated corridor along the OMR from Taramani to Siruseri in Phase I and Siruseri to Mahabalipuram in Phase II would tremendously improve the connectivity along OMR and reduce the commute time.
- A road project connecting four National Highways (NH5, NH205, NH4, and NH45) and eight state highways is in the pipeline. This would accelerate smooth connectivity from the suburbs to the heart of the city.
- Neighbourhood & Community – The ideal locality for comfortable living is the one that offers every facility for living right from good educational institutions, medical centers, entertainment hubs along with easy access to place of work. Examine the localities in this aspect and shortlist them based on this criteria. As a perfect example to such a liveable locality OMR has numerous reputed educational institutions like PSBB, Hindustan University, SSN College, Anand institute, famous hospitals like Chettinad Health City, Life line hospital, Vision hospital, malls like Mayajaal, Marina, MGM, and Corporate hubs like SIPCOT IT park, ETA Tech Park, and corporates like CTS, TCS are more.In order to cater to the taste of the Next Gen home buyers New Gen Gated Community flats in OMR are loaded with lifestyle amenities. Right from World-class club houses to game courts, shopping marts to an all inclusive talent honing hub for children these apartments for sale in OMR (link to CNCB) are custom made for a life of convenience.Appreciation and ROI –
Scope for property appreciation and the guaranteed ROI are very crucial factors to be considered before selecting your dream home. Select the locality that exhibits good growth potential and also demand for rental properties, this will ensure that your property would not only experience good appreciation but also draw regular rental returns. Flats in OMR located in beautiful amenity full Gated Communities satisfy both these criterias.
- Examine the emerging localities in the city based on these criteria and select the right one that is well-connected to the rest of the city and offers you the dream home within your investment range in a safe and secure Gated Community with ample lifestyle amenities and guarantees you good property appreciation and rental returns.