Is 2022 a good time to buy an apartment in Chennai?
The Covid phase showed us that investing in or buying an apartment in Chennai is a good choice. As per The Times reports the real estate sector has become the biggest wealth creator in India. You will be able to see that the economy also takes benefits from the investment sector. Now talking about the Chennai real estate market, YES ‘it is the right time to buy an apartment & invest in the Chennai real estate.
Coming back to normalcy
As all of us know, the pandemic years had a severe & adverse impact on every sector and the economy overall. This situation is changing, and we are gradually getting back to normalcy. Due to Covid-19, the real estate market of Chennai was a bit affected at the start. But the Chennai real estate is now witnessing a fast change and that means the market has already set to grow rapidly.
Effect of Covid-19 – Protection & security
The Covid 19 phase brought ups and downs in the market and the lives of people, and everyone has been taught a lesson by the pandemic. Prior to the Covid phase, people were happy and comfortable in their rented houses & smaller spaces, but now the whole scenario has changed. Adding to this, rental homes in Chennai have become unaffordable so people need to explore options for buying their own homes. People want their own homes, which also offer a sense of security & protection.
Need for larger homes
Covid-19 introduced the concept of Work from Home & Online education for kids to most households. So, from a home where people spent about 12 -14 hours, it became a space where everyone lived together for 24 hours. So, the need for a home changed. People want larger homes, more private spaces for children & elders, more open spaces and loads more. So, the need for larger homes is coming into play, pushing the demand up for premium homes.
RBI made it easy for homeowners
Because of the pandemic, RBI realizes that the housing sector can serve as a boon for homebuyers. Reduction in stamp duty and registration prices and lower interest rates have helped homebuyers to control their EMIs. Investing in Apartments now makes ideal sense with the new tax alleviation measures introduced for the first time and second-time home buyers.
Central Government Scheme
The Central Government is planning to develop multiple housing projects in the coming years. As part of the Smart City project, its goal is to construct smart cities to enhance the economy. Prices will simply arise in the future, which means there could be no better time to make investments in homes now.
Offerings & choices by Top Builders in Chennai
The top builders in Chennai have had a variety of investment options within the real estate sector in the last few years. For example, SPR India, which is developing Chennai’s Largest Integrated City is offering a wide choice of investment options – Independent Bungalows, Duplex Homes, Villaments, Premium Apartments & Compact Homes, apart from the opportunity to invest in shops in India’s Largest Wholesale and Retail market.
Importantly, all of these come with a host of world-class amenities like a school, international sports facilities & academies, a kids’ play area, large green spaces, 24×7 CCTV surveillance, clubhouses, swimming pools, gyms, and parks, etc. These amenities which were previously seen as a luxury option have become more or less a necessity.
To invest in the best real estate options at the right time, call us at SPR City, or visit www.sprindia.com