Planning To Buy A Home In Chennai? Padur Could Be A Good Option

Chennai's real estate markets are showing a sign of revival.  According to a PropTiger Data Labs report, new launches in the city witnessed a quarterly growth of 15 per cent in the second quarter of the financial year 2016-17. So, if you are planning to buy a property in Chennai, Padur could be an option for you. There are many positives if you decide to invest in this locality.

The liveability score

At PropTiger.com's site, Padur has a score of 6.9 on a scale of 10. The main strength of the locality is that it is located along the Old Mahabalipuram Road (OMR). This helps the residents to commute and connect to different areas of the city easily. The easy availability of hospitals, schools, bank & ATM branches and restaurants also adds to the beauty of the place.

The current status

Chennai has always been investors favourite. According to a PropTiger DataLab report, the project launches saw an increase of 350 per cent in September as compared to August. This invites opportunities for homes in different micro markets. Padur is one such micro market that is attracting attention for affordable flats. The area's proximity with the information technology corridors is fuelling this demand.  Developers such as such as Godrej, TVH, Mantri Group, Pacifica, XS Real, Jain Housing, ETA Star, Akshaya Homes, Colorhomes and Indus Cityscapes are coming up with new residential projects in Padur. Currently, the locality has 42 projects to meet this increasing demand for houses.

Future growth

According to the PropTiger DataLab figures, in the past one year, property prices in Chennai has seen only a marginal rise. This means property in the city in far more affordable today, and chances are that they would rise in future. This a reason why the demand for plots, apartments and villas in Padur is on the rise. PropTiger DataLabs figure show property prices in Padur have gone up 5.3 per cent in the past 43 months.

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