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- Hello Neha,
You have hit a gold mine.. Mahindra City is poised to grow in a big way. Infosys with more than 10000 employees at mahindra city and their huge IT facily at Paranur has attracted a lot of promotors for housing development. Investment in this area is a good idea and will fetch a good return. All the bestCommentQuote0Flag
- You need to see them 2 perspective. Investment vs living.
If you are looking for investment, my take would be on other suburbs surrounding chennai with good roads that hasn't seen much of raise yet but will soon find its equilibirum when things starts to settle. My take is Sriperambattur and Redhills area. But it can be any other place within an hours drive from chennai proper. Places that has seen huge raises is like 2 sided sword that can cut for you, or against you. If going for such places, have to wait some time ( 3months or more ) until the market starts to again trend up after the recent set back. But I would still prefer the other suburbs for investment that can fetch many times your investment over next 3-5 years or more.
If buying for living, then these places will be good choice but time your buys at right time with right negotiations. I hear lots of promoters having trouble easily getting rid of their properties in this stagnant market and willing to discount more and/or add in more interior works for same price, other kind of value additions, etc,..
All said and done, real estate investment in chennai/india will florish for next decade and more so definitely you don't loose money in long run. But getting the best of it what we strive for. Keeping cash not good option for India..
Just sharing my thoughts..CommentQuote0Flag