Investing in real estate can be a great way to grow your money over the long haul. Unlike the stock market, putting your money in the realty industry is quite safe. Buying a residential property would be a great choice if you wish to have a low-risk and secured investment which has a good potential in the long run.
An ideal real estate property is the one which offers a capital appreciation of at least 5-8 percent per annum. So, if you are planning to buy a property to fetch good returns, then you should concentrate on the location of the property. This is because; in real estate, the return on investment is directly proportionate to the locality where the property is. Hence, investing in 3 BHK apartments in Porur can be a great decision, as it is among the top 5 residential localities in Chennai.
Porur is one of the fast emerging places of Chennai and houses many chemical industries and manufacturing plants. Moreover, the wide roads in the area connect the city well to the neighbouring suburbs. But still you need to consider certain pointers at the time of property investment which is as follows:
1. The property should have easy access to the public transport
When looking at apartments for sale in Porur, make sure the property is well-connected to all means of public transport. Everyone has to travel daily for accomplishing different needs and not all of them can afford higher petrol expenses on a daily basis. Hence, it is always ideal if the property provides good connectivity to public transport. This becomes even more important as more and more people prefer to take public transport like metros to dodge the heavy traffic on road.
2. Availability of schools and hospitals nearby
Before investing in a residential property, always check the availability of hospitals & schools in the area. These are some of the basic facilities which one looks for when buying a property. It will make your life easy if you have children or during emergencies.
3. The property should have world-class facilities for value addition
Make sure the residential apartment you are investing in Porur has state-of-the-art facilities in the vicinity. This will add a great value to the worth of your property. For instance, having a shopping complex, multiplex and other facilities like play areas, swimming pool, will definitely increase the value of your investment. In case the property does not have such facilities nearby, invest in a locality that has a scope of the expansion plan.
4. Has scope for business & companies
It’s good to invest in a property from where your office is located minutes away. Look for localities where large companies are relocating or already exist. If this happens, the value of both commercial and residential real estate in the area will definitely rise in the coming years.
These are just 4 basic things you need to take into account at the time of making a property decision. However, you should also consider other relevant criteria prior to finalizing the deal.