Invest in flats for sale in Adyar

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Invest in flats for sale in Adyar
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Adyar Introduction
The neighborhood gets its name from the Adyar
River which flows through its northern limits.
Adyar and the neighbouring Guindy had been used
as hunting grounds by British officials of Fort
St. George from the 1680s onwards though Adyar is
first mentioned as a suburb of Madras only in a
map from the year 1740 when the British purchased
the village and integrated it with the Madras
Presidency. Adyar started to grow rapidly at the
turn of the 20th century following the founding
of the headquarters of the Theosophical Society
by Mrs. Helena Blavatsky here in 1883. Following
the establishment of the Theosophical Society
headquarters, the Kalakshetra, a cultural
organisation to promote traditional arts and
culture was established by Rukmini Devi Arundale
at Adyar in 1936. The 1931 census records Adyar
as a zamindari village in Chengalpet district.
Adyar was included within the Chennai Corporation
limits in 1948. A typical scene of charming
Adyar, 1905. "Courtesy of Special Collections,
University of Houston Libraries."
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Chennai's real estate remained a promising market
this year, thanks to its quality infrastructure
and high residential property-index. These
factors have been attracting a number of buyers
and investors. The market trends for the current
year, upon analysis, have brought to light the
progress that this city made in terms of real
estate. Let us have a look at a few of these.  
NRI (Non Residential Indians) investors displayed
a good interest in apartments for sale in
Chennai, the reasons being many. Some of them
already have roots in this city, so they felt
connected to the place. In addition, those who
are planning to return back intend to use the
property for themselves and their families back
in India. Their investment in commercial ventures
was another major highlight of the real estate.
These Non Residential Indians mostly invest by
forming partnerships with local Indians or by
framing private companies.
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Another noticeable trend was relatively higher
demand for property as compared to the supply
available. So, much correction in prices did not
happen this year. The exorbitant rise in the
construction prices was also the reason behind
low price-correction. The trend for commercial
property in Chennai was just the same office
spaces were occupied and the demands of flats for
sale in Adyar and OMR (Old Mahabalipuram Road)
were on a hike.
Now, let's talk about the price trends in some
hot localities of Chennai. Data show that the
current per square feet rate for flats in
Thoraipakkam and Velachery lies in the range Rs.
5000-6500/-. In case of Velachery, a rise in
demand for real estate came to light, due to
better means of connectivity available there.
This rise in demand can go on steadily over the
next two months. Thoraipakkam, in spite of lack
of basic amenities, expects to see a slight rise
in the demand for residential properties.
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