Every home buyer comes to the builders carrying the question, “Within how many years my house value will be doubled? Realtors may feel embarrassed while answering prospective buyers. A proper statistical explanation may pacify the customer’s anxiety. Compiled information on the topic is summoned here. Hope, it would help the buyers in understanding the overall economy and real estate industry as per today’s situation.

First of all, expecting prices shoot up how we had in between 2005-2008 is not possible in the current scenario. It is good to invest when the rental yields are above 3%, an authenticated source says.  The introduction of the “Real Estate Regulation Act” supports buyers whereas it removed the information asymmetry that helped in producing high returns from property. “The new launches in the industry fetch double in value within 4 years. Gone those periods. Your property will take up to 7-8 years to yield you double returns” is reported by a Chief Economist.

Secondly, based on specific features, you may expect the future value of your house and they are:

• Demand: Yes, it is a major aspect. When the demand is high and supply is less, it is obvious to see the rapid increase in property price. You shall watch the market scenario of properties regularly.
• Locality development: Price appreciation is always considered based on the infrastructure around your property. Government developments such as flyovers, national highways and private sector developments like shopping malls, IT companies near your property or raising of residential societies around the property will surge the price of your home.
• Social infrastructure: Amenities like Theatres, Malls, Restaurants, Fitness Club and Hotels can directly affect price appreciation.

Now, turning the focus on Chennai and its suburbs. Yes, this price-conscious city seems apparent for new developments. Though it is arduous to afford in the centric areas of Chennai, still, the new developments in Old Mahabalipuram Road and Grand Southern Trunk (GST) Road are hugely welcomed by IT professionals and Industrial workers. Why the areas are much considered? A number of IT companies and Fortune 500 companies are occupied in and around OMR and GST. That’s why many of them target these areas to buy apartments. Whether they consider the price appreciation or lay with out of expectations, there is no doubt the property will fetch flush returns.

Avadi, a suburb area of Chennai, attracts good buyers. Though located in Tiruvallur District, its improved connectivity to metros escalated the price values. Kanchipuram, Kelambakkam and Perumbakkam are not let down from the list, remember.  Perumbakkam and its proximity to Sholinganallur, a hub of IT companies are of buyers’ interest. So, buying the apartments in such areas will never descend your hope in multiplying the values of your property.

On the whole, a successful home buyer should look beyond the stylistic traits of a prospective home purchase and focus on the property’s potential for appreciation. It requires ignoring the most attractive houses in a target location and concentrating on the prospects for improvement, which may increase the value of your house. Discuss with your builder, track the appreciation value of the place if possible and invest in your property to acquire manifolds of the value. GP Homes, guide their customers in a flourishing way while planning to invest in properties. It is definite to see much more price appreciation when you deal with such reputed and sincere builders.