Whenever you buy a property, you need to make sure you are investing in an asset that will increase in value and that gets you the best deal. To evaluate the value of a property like flats in Chennai, one needs to consider certain factors that impact the property rates. These factors influence the selling price of the developer as well as how much a buyer is willing to spend for that particular property. The factors are as follows.
Maintenance:
The overall appearance of the home plays an important part in the property value. The first impression is vital to a buyer’s decision. Properties that are maintained well, and have received a set of repairs and a fresh coat of paint before going up for sale will sell easily. The appearance of the property will speak of its age, maintenance, and its aesthetic. Poorly maintained properties are viewed as bad investments. The cost associated with repairing them and making them liveable is an extra expense in addition to the selling price you would buy it for.
Property appreciation:
Anyone looking to invest in flats in Chennai will check how the property rates are trending. Even if you buy a home to live in, you still want to ensure that it appreciates in value in the future. This will secure your investment and help it grow. This can be predicted by the price trends in the past few years. Alternatively, you can check for projects and locations where a lot of developers are investing in. You can also check the development plans for the location. Government and private infrastructure projects will pull the property prices up.
Access to facilities:
Projects that are located in proximity to necessary facilities are considered very valuable. People look for flats in Chennai that are located close to their work or close to their children’s schools. Additionally, the presence of public transport hubs, shops, hospitals, etc. are necessary for a comfortable life. This infrastructure access drives up the property value considerably. They are in high demand and will attract good rental and resale value.
Amenities:
People are willing to pay a premium price for properties that are equipped with luxury amenities. These amenities make life comfortable and encourage a healthy physical, emotional, and social life. Your family members would also make use of these amenities. Facilities like Security personnel, CCTV, etc. keep the premises secure and are preferred by home buyers. These amenities actually save you a lot of money in the long run as they can be availed for a nominal maintenance fee instead of spending money on expensive memberships. Such properties attract buyers and renters easily.
Neighbourhood:
The area in which the property is located is important too. Projects located in well established commercial and residential zones will appreciate faster than projects located in up and coming neighbourhoods. The area should be clean, secure for women and children, have essential services within walking distance, be free of crime, have ample space between adjoining plots and buildings, etc.
Vastu Compliance:
The apartment must be Vastu compliant, allowing plenty of natural light and fresh air into it. Flats in Chennai are usually designed to accommodate this as they cater to a consumer base that deems this point vital to a harmonious life. The orientation of each room, the side the flat opens to, etc are deciding factors when it comes to picking an apartment from a residential project.
Lifestyle housing is a reputed developer of 4BHK apartments in Chennai. We have projects in premium residential locations including a gated community in TNagar. All our projects are located close to facilities like schools, colleges, IT or industrial corridors or commercial zones, hospitals, and entertainment. This ensures their value increases with time giving you a good return on investment.
