Is buying a flat a good investment option in OMR?

Apartments in OMR are in high demand since the neighbourhood is home to numerous sizable corporate and IT companies. India is the country that exports the second-most information technology, and this stretch has been recognised as an IT corridor. Real estate activities have been bolstered by the region's growth, which has elevated it. For all demands and necessities that match top-notch standards, this neighbourhood offers a wide range of possibilities, including studio apartments, cheap apartments, and luxury flats.

Chennai's real estate market has been growing quickly along with the city's economy. As a result, many residential hubs and complexes have grown around the city, including one of OMR's most well-liked residential centres.

Buying an apartment on the OMR will ensure best immediate returns in terms of rentals and will also offer great resale value in the future. The number of completed and ongoing residential and commercial projects in the area have contributed to its growth and demand. The IT corridor also offers vast opportunities for appreciation over the short period, making it a good investment choice.

The area is especially preferred by the younger generation for the employment opportunities with numerous companies in the vicinity and availability of all types of properties, in addition to enhanced connectivity and future price appreciation. Investing here is bound to be a lucrative decision as the residential market has seen a significant price rise in the recent past. Let's break it down and understand all about this IT Corridor!

Understanding OMR: The IT Corridor of Chennai

Old Mahabalipuram Road, also known as Rajiv Gandhi Salai, stretches from Madhya Kailash in Adyar to Mahabalipuram in the south. This 45-kilometer stretch has transformed significantly over the past two decades, evolving into a hub for IT parks, educational institutions, and residential complexes. The presence of major tech giants like TCS, Infosys, and Cognizant has not only boosted the local economy but also spurred infrastructural developments. The area is well-connected by road and rail, making it a convenient location for both working professionals and families.

Why Invest in OMR?

Everybody wants to live in a place that can meet all of their needs and is both safe, and OMR is unquestionably one such place. The following are the reasons why you have to invest in OMR.

The proliferation of IT companies along OMR has led to a surge in employment opportunities, attracting a large workforce to the area. This influx of professionals has increased demand for residential properties, driving up property values and rental yields. Investing in a flat here means tapping into a market with steady demand, ensuring potential appreciation in property value over time.

OMR boasts excellent infrastructure, with wide roads, flyovers, and public transportation facilities that enhance connectivity to other parts of Chennai. The Chennai Metro Rail project, once extended to OMR, will further improve accessibility. The presence of renowned educational institutions, healthcare facilities, shopping malls, and recreational centers adds to the area's appeal, making it a self-sustained locality.

Advantages of Investing in OMR

Here are a few key reasons why it's a great idea to invest in flat in OMR. Let's start with the top benefits.

Affordable Apartment Prices

The affordability factor of flats in OMR is one of the main arguments in favour of making an investment. OMR has affordable apartments while being one of the city's most popular neighbourhoods. This is due to the fact that the region is still growing. Investing here allows you to save costs without sacrificing your standard of living.

Wonderful lifestyle

OMR is home to developments by some of the leading real estate developers in the area. As a result, this area has a tonne of flats with excellent amenities. Leading developers provide well-designed residences with a plethora of amenities, including a luxurious clubhouse, a fully furnished gym, a children's play area, and a swimming pool.

Tech Hub

OMR is referred to as Chennai's IT hub due to the presence of numerous sizable IT companies, which has sparked the growth of surrounding real estate. Apartments for sale in OMR will arise from the large number of firms that exist today and will exist in the future.

Ease in community

OMR also benefits from smooth connectivity to other parts of the city, ranging in size from small to large, such as industrial and educational districts. The distance between OMR and Chennai airport is 30 minutes by car, yet it just takes 10 minutes to go to TIDEL Park. It's also close to East Coast Road, which boasts a gorgeous shoreline with amazing views of the ocean. At the moment, ECR and OMR are well connected by a few connection roads. Neelangarai and Pallavakkam will also get two new link roads, enhancing connectivity between the ECR and other areas of the city.

Multiple options

OMR offers a large selection of flat varieties that differ in size and design. There are homes available that range in size from multi-room apartments to one-bedroom flats. Leading developers in Chennai attest to this by including smart homes and flats in their portfolio of residential developments. You can therefore be confident that you will discover whatever it is that you are seeking for here.

Higher Return on Investment

OMR is constantly evolving, and more industrial initiatives are anticipated to materialise soon. Given this, it is anticipated that in the future years, there will be an even greater demand in this area for residential constructions. Because of this, buying real estate in OMR will quickly yield very high returns on your investment as your apartment's value increases.

Great rental demand

In OMR, apartments are in high demand for both purchases and rentals. Given Chennai's growing IT industry and job opportunities, renting an apartment in OMR might bring in a lot of money. Considering the constant demand for real estate in places like Chennai, you might also create long-term revenue strategies.

Upgraded infrastructure

Public infrastructure initiatives are another reason why OMR is among the greatest areas in Chennai to purchase an apartment. The government has given this area top priority for the construction of sewage and water services in the corridor. You may therefore be confident that you won't experience any issues with either of these amenities if you purchase an apartment here.

Good social amenities

OMR is regarded as one of Chennai's upscale neighborhoods. This area is home to up-to-date educational facilities, elegant dining establishments, and intricately designed homes. In addition, the residential township projects in OMR contribute to improved living conditions and comfort.