Regularise Property Chennai by shelling out Rs 41,000 under a Regularisation Scheme

Do you own an unapproved plot measuring 1,000 square feet in a municipal area? Now you can regularise the property in chennai  by shelling out Rs 41,000 under a regularisation scheme announced by the state government.

The high court had imposed a blanket ban on registering plots lacking statutory approvals on September 9, 2016 after noticing rampant conversion of agricultural land into residential plots across the state.

No RERA For Chennai Home Buyers

No RERA for you: Chennai home buyers in limbo after Tamil Nadu fails to ratify act before deadline
With the Tamil Nadu government failing woefully to ratify the RERA (Real Estate Regulatory Act) prior to the deadline, Chennai Property  buyers are left in lurch, without regulation to safeguard them from exploits of builders.


Several big realtors in the town have failed to meet deadlines and many families'fight for justice has reaped no rewards whatsoever.

Table of Content

Building approvals in Chennai Metropolitan Area (CMA) at click of a button

Well Developed Localities To Consider When Scouting Property in Chennai

Ravishankar, a home buyer in Chennai, who paid Rs 40 lakh to buy a home in 2010 is yet to obtain its possession.

Top 10 Real Estate Website in Chennai

Buyers who wish to purchase real estate in Chennai would be tempted to turn to searching for real estate websites online. However what buyers will find is that among the top 10 real estate website in Chennai will be websites present whose owners have simply paid to be listed among the top 10 real estate website in Chennai. While advertising on search engines is expensive, many companies do not shy away from doing so to be ranked among the best. 

Propchill ventures into providing an investor with tools to generate comparative analysis across various verticals like location, specifications, conveniences, costs or the most important accommodation design also you can view detailed Real Estate trends and Property insights, with Liveability Index before any real estate or property investment

Building approvals in Chennai Metropolitan Area (CMA) at click of a button

Applicants could get building approvals in the Chennai Metropolitan Area (CMA) at the click of an option soon. The Chennai Metropolitan Development Authority (CMDA) will launch the process as part of an idea to unveil single window clearance for (building) approvals.

CMA comprises areas in the jurisdiction of Greater Chennai Corporation and parts of Kancheepuram and Tiruvallur districts.

Announcing this at FAIRPRO 2017, home and real-estate exhibition organised by the Chennai chapter of Confederation of Real Estate Developers'Associations of India (Credai), affordable homes in Chennai and urban development secretary Dharmendra Pratap Yadav said the facility will begin in a couple of months.

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"I hope the online submission facility will undoubtedly be ready over the following two to three months," he said. The device will also monitor the progress of applications.

On the problem of affordable housing property in Chennai , he said, Tamil Nadu has an acute shortage of affordable housing. Noting that the quantum of shortage could be 1.2 million units in the affordable housing sector, he said, "Of the, the majority are in Chennai and range between 6 lakh and 7 lakh per unit."

Well Developed Localities To Consider When Scouting Property in Chennai

Traditional localities give buyers an opportunity to own property in Chennai and three such regions qualify as an excellent investment destination. Neighborhoods such as Nungambakkam, Mylapore, and Adyar are three such localities which have proven thus far to be rewarding destinations at which to invest in a new home. Moreover these three localities are expected to continue to provide good returns on any real estate investment made today as well. These three regions have recorded the highest price per square feet and in the future all three regions are expected to continue to grow dearer.

Prices Have Risen Considerably in All Three Localities 

In Chennai in particular, developed localities have proven to give excellent returns on investments made in such regions. Out of such high growth real estate markets in Chennai, Adyar has proven to be the darling as the price of real estate in Chennai at this locality has risen by nearly 28 percent over the past few years. Other localities such as Nungambakkam, and Mylapore have also proven themselves to be excellent destinations at which to buy real estate and the price of property at these regions has risen by 13 percent and 12 percent respectively. Notably industry insiders expect the price of property in these regions to rise sharply over the next three months. Homebuyers who are hunting for residential property in Chennai and expecting to reside in the same shall find numerous options to choose from in these three localities. All three localities provide a quality living standard as can be gauged by the residents and property dealers ratings regarding the quality of life in these three regions.  

Understanding The Strengths of These Localities 

The ratings mentioned above comprise of three different parameters which are Environment, Commuting, and Places of Interest. The details of these three parameters are as follow 

Environment: This metric is made up of the quality of roads, cleanliness, safety for residents, and the overall quality of life in the neighborhood. All three localities score high in these four metrics 

Commuting: Consists of connectivity to the rest of the city by public transport or private vehicle. It also includes ease of parking, and relatively easy flowing traffic in the locality.  

Places of Interest: Includes the quality of social infrastructure in the region such as schools, hospitals, markets, and restaurants. According to the residents who live in projects in Chennai at these three locations, residents are well served by the social amenities provided at these three localities in Chennai.  

The presence of a highly developed social infrastructure in these regions is one of the reasons which make these localities an attractive place to buy a house in Chennai.  

The Ground Scenario 

Delving into more details regarding the livability of these three neighborhoods we find that Adyar is a secure locality with a police station and well lit streets, the sewage and drainage system also work  well in this locality. The bus depot in Adyar is also widely used. There is however a problem with traffic jams in this region. Nungambakkam has the advantage of being in the close vicinity of the railway station as well as the airport in addition to being well connected to the rest of the city via busses, and taxis. Residents of Nungambakkam often commute by Metropolitan Transport Corporation and local trains. Mylapore is well connected  by bus services such as MTC and MRTS and has abundant parking spaces. This last region also has a functioning drainage and sewage system.  

Conclusion 

Buyers eager to own luxury homes in Chennai would be wise to pass on Mylapore yet will find a pleasing home in either Adyar or Nungambakkam. There are also ample affordable homes in Chennai in Adyar and Nungambakkam.