Investment in Property has time and again proved to be the most reliable and rewarding one. In comparison to the highly volatile share market, fluctuating gold prices, low interest rates in banks, real estate is not only reliable, but also offers excellent Returns on Investment, especially when the choice of place for buying the property is an emerging and highly developing one.
The Metropolitan city of Chennai is one of the top most cities in the country that is experiencing exponential growth in terms of infrastructure development, growth of industries, educational opportunities, Medical advancement, and also the development of the Real Estate sector. When compared to the other Metros, the city offers trendy and amenity full homes at a much customer-friendly price. There are many thriving micro markets in the city, and OMR is the topmost one.
OMR (Old Mahabalipuram Road) is the IT hub of Chennai with its 45 km stretch connecting Chennai with Mahabalipuram- a UNESCO World heritage site. It is home to a variety of IT parks, multinational companies, educational institutions, and research centers. Its well-developed social infrastructure and excellent connectivity to the city center and other arterial roads like ECR(East coast road) and GST(Grand Southern trunk) road make it a highly desirable place to work, live and invest.
As companies shift out of the WFH (Work from home) model and employees return to offices, it is quite obvious that employees prefer to stay close to their place of work. So, flats for sale in OMR have emerged as top choice for the lacs of professionals employed along this stretch. Owing to the excellent connectivity of OMR and also the expansion of CMRL Phase II offering great scope for the future, home buyers irrespective of their place of work, prefer to stay along the OMR stretch. This makes OMR a smart choice of locality for property investment to get excellent rental returns.
Here are few more reasons that make OMR an ideal choice for property investment –
Strong Demand
There has been a steep surge in demand for good housing on OMR due to a combination of factors – companies asking employees to return to offices and growth in the number of companies with offices along OMR. In addition, the vibrant economy and new-age infrastructure along OMR has attracted people to the area. As demand for good quality residential housing, serviced apartments, and paying guest accommodation spikes, the area has seen rapid increase in property prices for both purchases and rentals.
Excellent connectivity
Through a network of highways, roads and public transport infrastructure, OMR is well-connected to the rest of Chennai and its suburban areas. It is easily reached from the Chennai International airport. Scenic spots and beaches are a short distance away and provide a variety of options for residents of OMR to improve the work-life balance. This would be further improved and commute made a lot easier when the under-construction Metro Phase 2 is completed in the next few years.
New-age infrastructure
OMR has well-maintained roads that are well-lit and has a variety of public amenities. Residents of apartments in OMR have a whole spectrum of entertainment options, malls, multiplexes, eateries, hotels and more along its entire stretch. The presence of reputed hospitals, educational institutions, schools and colleges provides the required social infrastructure for comfortable living.
Growth potential
As investments continue to pour in, OMR is expected to witness rapid development and infrastructure improvements. Several Government projects are in the pipeline aimed at improving the liveability and connectivity along the OMR through widening of roads, constructions of flyovers and bridges, metro rail, water supply and drainage systems.
The above mentioned are some of the many reasons that make apartments in OMR the perfect choice to reap excellent rental income, for there is constant demand for quality residential spaces along this stretch.
Here are some major OMR localities offering high rental income
Sholinganallur – It is a rapidly expanding residential neighborhood that also has a well-established IT hub that hosts companies like WIPRO, HCL, Cognizant and Ford. It has prestigious schools, hospitals, and recreation centers in addition to hotels, eateries and more.
Siruseri – Home to one of the largest IT parks in Asia – the SIPCOT IT Park which houses over 45 large company facilities including TCS, Hexaware, Cognizant and Syntel. Siruseri offers a variety of residential options from apartments to villas and is well connected by public transport and road networks.
Navalur – Located between Sholinganallur and Siruseri, Navalur’s ideal location has seen a rapid growth in residential properties, multiplexes, eateries, and commercial establishments. It is close to large educational institutions and provides investment options at attractive prices.
Padur – An up-and-coming area that is easily accessible from the large IT parks in Siruseri and Sholinganallur. It offers a good entry point for investments that can offer attractive returns as the area continues its rapid pace of development.
With diligent research, homework and planning, a property investment along OMR can provide profitable returns for years to come through an ideal combination of immediate rental income and multifold capital appreciation in the long run.