As Central Chennai continues to attract job seekers from across the nation, primarily due to its booming IT sector, the demand for rental properties has surged. This creates a promising landscape for investors seeking reliable rental returns.
Top Areas for High Rental Yields
- Kilpauk
Kilpauk is strategically located near major employment hubs, including the Guindy and Ambattur industrial zones. With a high demand for rentals driven by its accessibility and social amenities, the average rental for a 2 BHK apartment is approximately Rs 22,000 per month. The area boasts an impressive average property price of Rs 12,700 per sq ft, reflecting over 30% appreciation in the last five years. - Egmore
Rated 4.4 on the 99acres Ratings platform, Egmore stands out for its robust transportation network and proximity to essential services. The locality offers a monthly rental of around Rs 50,000 for 3 BHK apartments, supported by its average property price of Rs 13,900 per sq ft. Notable amenities include hospitals, schools, and shopping malls, making it an attractive choice for families. - Aminjikarai
Nestled within a 10-km radius of significant employment hubs, Aminjikarai is experiencing a surge in rental demand from working professionals. The average property price is Rs 10,150 per sq ft, with 3 BHK units renting for about Rs 45,000 per month. Residents appreciate the area’s robust social infrastructure, including schools and hospitals, contributing to its favorable living conditions. - Choolaimedu
Choolaimedu offers an affordable entry point into the rental market, with 2 BHK apartments starting at Rs 50 lakh and fetching around Rs 16,000 in monthly rent. The area benefits from its proximity to bustling commercial zones and major IT parks, making it an attractive option for tenants. It has received a commendable rating of 4.3 from residents on the 99acres platform. - Arumbakkam
With a growing reputation for its liveability, Arumbakkam is rated 4.2 on the 99acres platform. The average property price is about Rs 10,000 per sq ft, with 2 BHK apartments renting for around Rs 15,000 per month. The area is known for its excellent connectivity and access to amenities, including schools and shopping centers.
Conclusion
Investing in Central Chennai presents an enticing opportunity for generating substantial rental income. The combination of robust infrastructure development, proximity to key employment zones, and a thriving rental market positions these localities as prime targets for investors. However, it is crucial for potential investors to conduct thorough research and due diligence before making purchasing decisions to maximize returns in this competitive real estate landscape.
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