Residential properties in Avadi- Capable of fetching good returns in the near future
The word ‘Avadi’ is derived from the abbreviation of “Armoured Vehicles and Ammunition Depot of India”. As the Chennai city limits have reached its saturation points, potential home buyers are now looking for places which are less occupied. Avadi is one such suburb that has great potential for real estate growth. One of the important factors which influence the demand for the locality is its closeness to areas like Anna Nagar and Ambattur.
Despite being located at a distance of 23 km from the city, the place enjoys great connectivity. Poonamallee High Road, Red Hills High Road and the Chennai-Tirupati Highways provide better road connectivity. Avadi railway station and the MTC bus stand offer easy accessibility to various parts of Chennai city. The locality’s proximity to prospective areas like Sriperumbudur has also attracted many home buyers.
Professionals working in Tech parks in Sriperumbudur are expressing keen interest in purchasing 2 BHK apartments in Avadi for sale. A 2 BHK Apartment in Avadi will cost about Rs. 25 to 35 lakh depending upon the area. The cost of construction varies from 3000 to 4000 Rupees per square feet.
Compared to the hustle and bustle of the city, the area offers a serene and peaceful environment. The rapidly developing infrastructure and the growing commercial belt make this locality an ideal destination for many families and retired personnel. Attracting a pool of the student fraternity due to the presence of many engineering colleges, investors and second time home buyers are now purchasing properties only to rent them out on a later date.
Avadi 2 BHK apartments for sale each of 1,000 square feet can fetch rental income of Rs 8 and 12 per square feet, depending upon whether the homes are semi or fully furnished.
Apart from offering the perfect combination of traditional and modern day needs, the area offers a number of housing options that are considered to be affordable. The appreciating capital values of residential plots and apartments are luring many potential investors to invest here. Property prices of apartments have brought an increase of 28 percent in the past two years.