Navalur Location Overview – A Complete companion for Home Buyers in Chennai
Buying your first home in Chennai’s fast-developing neighbourhoods can be one of the smartest decisions—if done right. Emerging areas offer better prices, modern developments, and long-term growth, but they also demand careful evaluation.
This checklist is designed to help first-time homebuyers confidently choose the right property in Chennai’s growing residential corridors.
Affordable pricing compared to core city locations
New infrastructure & planned developments
Better chances of capital appreciation
Modern homes with better layouts & amenities
Popular emerging zones include OMR extensions, GST Road belt, West Chennai, and select North Chennai pockets.
Before finalising a property, check:
Distance to your workplace or IT hubs
Access to major roads (OMR, GST Road, ORR, Mount–Poonamallee Road)
Nearby or upcoming Metro stations
Availability of buses & suburban trains
Realistic peak-hour travel time
Buyer insight: Connectivity determines daily comfort and resale demand.
Emerging areas grow fast—but unevenly.
Ensure the area has:
Proper internal roads & street lighting
Stormwater drainage (crucial in Chennai)
Underground sewage connection
Reliable electricity supply
Planned civic amenities, not just promises
Always research the builder.
Checklist:
Proven track record in Chennai
On-time delivery history
Quality of construction in completed projects
RERA registration number
CMDA / DTCP approvals
Red flag: Deep discounts with unclear credentials.
For peace of mind, verify:
Clear land title
Approved layout
Encumbrance Certificate (EC)
Approved building plan
Completion Certificate (for ready-to-move homes)
Tip: Engage a property lawyer if needed—especially for first-time purchases.
Don’t look only at the base price.
Include:
Registration & stamp duty
GST (for under-construction homes)
Interior & furnishing costs
Monthly maintenance charges
Parking & amenity fees
Safe rule: EMI should not exceed 40% of monthly income.
Evaluate the actual living experience:
Carpet area vs built-up area
Ventilation & natural light
Functional floor plan
Noise from highways or future construction
Orientation & Vaastu preferences (if applicable)
A good home needs a good neighbourhood.
Check proximity to:
Schools & colleges
Hospitals & clinics
Supermarkets & daily needs
Parks & play areas
Safety & community environment
Even if you’re an end-user, future value matters.
Look for:
Upcoming Metro lines or road projects
Employment hubs nearby
Rental demand in surrounding areas
Past 3–5 year price growth trend
Planned commercial developments
Before booking:
Confirm bank approval for the project
Check loan eligibility early
Compare interest rates & tenure
Understand foreclosure & prepayment terms
Bonus: Bank-approved projects usually have cleaner legal status.
Ask these final questions:
Is the area flood-prone?
How is water availability—Metro water or tankers?
Is development already happening or only planned?
Are people already living there?
Golden rule: Buy where development has started—not where it’s only promised.
Q1. Are emerging areas in Chennai safe for first-time buyers?
Yes, if the project is approved, legally clear, and located in a developing residential zone.
Q2. Which Chennai areas are best for first-time homebuyers?
OMR extensions, GST Road suburbs, West Chennai growth corridors, and select North Chennai localities.
Q3. Is buying in emerging areas good for investment?
Yes, emerging areas often offer better appreciation over 5–10 years compared to saturated city zones.
Comments
Post a Comment