Top 5 Reasons to buy a property in Chennai

Chennai, the capital of Tamilnadu formerly known as “Madras” is known as the “Gateway of South India” due its multiculturalism. It is well known as the Cultural Capital of South India as it is the third most visited city in India by international tourists according to Euromonitor International. It is located along the coastal regions of Bay of Bengal.

Let’s look at the top 5 reasons to buy a property in Chennai.

1. Good Connectivity & Accessibility

Chennai is well connected to all major cities and states through various modes such as roadways, railways, airways and seaways. The Port in Chennai is the third oldest among the major ports and the second largest commercial ports in India. Also, there are lots of interconnected routes which make it accessible and easy to commute within and outside the city. The various modes of public transportation available such as buses, taxis, auto rickshaws and share auto services, local and the new metro trains and the frequency of these are seamless. Unlike in other cities, the road traffic is much less here and commuting is much easier and hassle free.

2. Quality Education & Immense Job Opportunities

Chennai ranks among the highest literacy rate in India with about 81% which in turn is a key for socio-economic progress. There are various educational institutions offering quality education programs. Chennai is home to some reputed educational and research institutions such as IIT Madras, Stanley Medical College, Anna University, Central Leather Research Institute (CLRI), etc.

Along with education, it is also an ideal place for employment due to its varied industry sectors. Chennai, also known as “The Detroit of India” is the hub for automotive and auto components, as more than one third of India’s automobile manufacturing and allied industries are based in and around the city. Top Automotive players such as BMW, Ford and Hyundai have setup their manufacturing base in Chennai. The city is attracting billions of dollars in foreign investment and manufacturing units which in turn generate more employment. As per Confederation of Indian Industry report, Chennai is estimated to grow to a US $100 billion economy, which is a 2.5 times its present size by 2025.

Apart from Automotive, this city is also a hub for Electronic, IT & ITes and has many IT parks and is ranked the second largest exporter of Information Technology services next to Bangalore. This makes it an exciting place for both education and career aspects for an ambitious individual.

3. Affordability & Reasonability

The cost of living is slightly affordable in Chennai when compared to other metro cities in India. This includes the food, transportation, real estate, health care and entertainment. Chennai is also the medical hub of India due to its advanced and cutting edge health care facilities. This is the reasons why the city is also thriving in medical tourism. It is less expensive to own a flat or a villa in Chennai than any other major metropolitan cities in India. Chennai has been ranked as the second best metropolitan city as per the study of India’s Ease of Living Index released by the Ministry of Housing & Urban Affairs in 2018.

4. Multi-Cultural & Safe

Chennai is one of the most multi-cultural and conservative metropolitan cities in India. People here are known for their warm and friendly nature and welcome all traditions with open arms. As per Mercer Consulting Group, Chennai ranks among one of the safest cities in India with low crime rates and a stable law and order situation. It is safe for women and children when compared to other major Indian cities. The city also has the lowest risk of mugging & kidnapping which makes it secure even for tourists and residents

5. Excellent Infrastructure & Entertainment

Chennai boasts of some amazing infrastructure in and around the city and is listed among the 100 Indian cities to be developed as a Smart city under smart cities mission. The primary aim of this mission is to provide core infrastructure and offer a decent quality of life to its citizens and sustainable environment through application of '‘Smart solutions'. The focus areas covered under this project are Mobility, Technology, Environment, Water & Energy.

Hence, after thoughtful consideration of the above-mentioned points, it is evident that buying property in Chennai is indeed worth it and has a lucrative potential in future as well.