Realty market trends in Potheri
Driven largely by
working professionals and students, Potheri seems to turn out into a developing
rental hub on the GST Road. Many students that move to Chennai for their
studies choose to rent 1BHK apartments
in Potheri along with a group of friends, eventually enjoying a comfortable
stay at an affordable price. These apartments in Potheri offer so much more
amenities and facilities compared to hostels. Besides, professionals working in
the IT companies along the GST Road choose to buy apartments here in Potheri as
well. On the whole, this area has become a favourable residential settlement
locality in Chennai.
Growth of real estate in Potheri
Many gated communities
have propped in Potheri. These are located very near important places like
department stores, clinics, schools, colleges, restaurants and banks. Moreover,
there is good connectivity from Potheri to the city centre via local trains and
buses.
Potheri has witnessed
a quick surge in terms of residential developments in the past few years. There
is massive industrial development taking place between Oragadam and
Sriperumbudur and a lot of factories are being set up. Those working in these
factories choose to stay near their workplace instead of commuting to and from
the city. So, it is considered as a wise thought to buy a Potheri 1 BHK apartment that is spacious and fulfils the needs of a
joint family or a group of colleagues or students.
Investors and buyers
Potheri sees a range
of investors. Though there are some first-time buyers, it is the second home
buyers that dominate the market. Real estate market in Potheri enjoys a healthy
rental trend. It is mainly because of the presence of educational institutes and
Mahindra Tech City nearby. Investors and second home buyers buy property in
Potheri so as to make a stable rental income.
Cost per square feet
of apartments in Potheri range between Rs. 3000 and Rs. 5000, which is
certainly very much less than the other developing areas of Chennai. While
Potheri is now seeing a gradual growth in real estate, its real estate sector
is believed to grow exponentially in a couple of years.