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Identifying up-and-coming neighbourhoods in your city can be beneficial for various reasons whether you are a homeowner, investor, or someone looking for a new place to live.
Here are several reasons why people often seek out and consider up-and-coming neighbourhoods:
Up-and-coming neighbourhoods often experience value appreciation over time. Investing in real estate in these areas can lead to significant returns on investment as the neighbourhood develops and becomes more desirable.
In the early stages of development, properties in up-and-coming neighbourhoods are more affordable compared to well-established areas. This affordability can attract first-time homebuyers or investors looking for relatively lower entry costs.
Identifying and investing in a neighbourhood before it reaches its full potential brings in an opportunity for long-term growth. As the area develops and amenities improve, property values increase.
Many up-and-coming neighbourhoods undergo rapid infrastructure improvements including new roads, public transportation, and community facilities. These enhancements can contribute to a better quality of life and attract more residents.
Up-and-coming neighbourhoods often attract artists, entrepreneurs, and community builders. The growth of a vibrant cultural scene and community engagement can contribute to a sense of identity and belonging in the area.
Identifying up-and-coming neighbourhoods allows investors to diversify their real estate portfolios. Rather than solely focusing on established areas, diversification can spread risk and potentially increase overall returns.
Being an early investor or resident in an up-and-coming neighbourhood can offer a first-mover advantage. As the neighbourhood develops, you may benefit from increased property values and improved amenities.
Up-and-coming neighbourhoods often undergo urban renewal and revitalisation. These initiatives can transform the area and make it more attractive and appealing to residents, businesses, and investors.
As the neighbourhood gains popularity, the demand for housing and commercial spaces may increase. This rising demand can drive property values higher and create a competitive market.
Up-and-coming neighbourhoods may experience improvements in local services, schools, and recreational facilities. These enhancements contribute to an overall improvement in the quality of life for residents.While there are potential benefits, it's essential to conduct thorough research and due diligence before investing in or moving to an up-and-coming neighbourhood. Consider factors such as local development plans, market trends, and your preferences and goals to make informed decisions.
Popular residential areas in Chennai
In Chennai, there are several up-and-coming areas where you might plan to invest/buy a house. The areas include:
The biggest plus point is its proximity to IT parks, and the area has many options in the affordable housing segment.
This area is gaining momentum due to the IT corridor.
An emerging IT and residential hub is one of the major reasons for this area to fall on the list of up-and-coming ones.
The location of any area is its major trump card. Medavakkam is one of the most strategically located places in Chennai.
What sets this part of the city apart is its infrastructure and educational institutions.
Residential and commercial development is rapidly taking place here making it an up-and-coming location.
Being close to IT companies, educational institutions, and the OMR stretch are a few features that make Navallur a top-rated choice for home-buyers.
Traditionally a residential area, it has been witnessing commercial development recently making it a great pick for investors.
It’s an affordable residential area with good connectivity.
One of the areas that has some of the oldest localities.
Located in the southern part of the city, this area is a suburb and neighborhood in Chennai.
Pallikaranai is an emerging residential locality surrounded by established areas like Velachery and Thoraipakkam. It also has many educational institutions.
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