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Invest in flats for sale in Adyar

The trend for commercial property in Chennai was just the same: office spaces were occupied and the demands of flats for sale in Adyar and OMR (Old Mahabalipuram Road) were on a hike.

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Invest in flats for sale in Adyar

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  1. Invest in flats for sale in Adyar

  2. Adyar Introduction: The neighborhood gets its name from the Adyar River which flows through its northern limits. Adyar and the neighbouring Guindy had been used as hunting grounds by British officials of Fort St. George from the 1680s onwards though Adyar is first mentioned as a suburb of Madras only in a map from the year 1740 when the British purchased the village and integrated it with the Madras Presidency. Adyar started to grow rapidly at the turn of the 20th century following the founding of the headquarters of the Theosophical Society by Mrs. Helena Blavatsky here in 1883. Following the establishment of the Theosophical Society headquarters, the Kalakshetra, a cultural organisation to promote traditional arts and culture was established by Rukmini Devi Arundale at Adyar in 1936. The 1931 census records Adyar as a zamindari village in Chengalpet district. Adyar was included within the Chennai Corporation limits in 1948. A typical scene of charming Adyar, 1905. "Courtesy of Special Collections, University of Houston Libraries."

  3. Chennai's real estate remained a promising market this year, thanks to its quality infrastructure and high residential property-index. These factors have been attracting a number of buyers and investors. The market trends for the current year, upon analysis, have brought to light the progress that this city made in terms of real estate. Let us have a look at a few of these. NRI (Non Residential Indians) investors displayed a good interest in apartments for sale in Chennai, the reasons being many. Some of them already have roots in this city, so they felt connected to the place. In addition, those who are planning to return back intend to use the property for themselves and their families back in India. Their investment in commercial ventures was another major highlight of the real estate. These Non Residential Indians mostly invest by forming partnerships with local Indians or by framing private companies.

  4. Another noticeable trend was relatively higher demand for property as compared to the supply available. So, much correction in prices did not happen this year. The exorbitant rise in the construction prices was also the reason behind low price-correction. The trend for commercial property in Chennai was just the same: office spaces were occupied and the demands of flats for sale in Adyarand OMR (Old Mahabalipuram Road) were on a hike. Now, let's talk about the price trends in some hot localities of Chennai. Data show that the current per square feet rate for flats in Thoraipakkam and Velachery lies in the range Rs. 5000-6500/-. In case of Velachery, a rise in demand for real estate came to light, due to better means of connectivity available there. This rise in demand can go on steadily over the next two months. Thoraipakkam, in spite of lack of basic amenities, expects to see a slight rise in the demand for residential properties.

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