Mogappair- A Golden Investment
Well, there is no space for contemplation over purchasing property in Mogappair. It has become a matter of pride to own a property in this location. The Northwestern Pride of chennai is bound to all time demand. There are two major divisions of Mogappair namely Mogappair East and Mogappair West. From a small village, Mogappair has developed into the bumble bee of the Metropolitan City. The growth of this area can be described to be in lightning pace. The locality experiences a high social, civic, infrastructure, catering to the needs of the swarm of buyers and builders.
Commercial Market Swing
The increase in the urban population, curtails the land availability thereby the commercial market growth has been evident in this location. This commercial property is predominantly occupied by Office spaces which is put for sale at an average rate of Rs 9,990 per sq.ft which mounts to around 3.1 crore approx. A commercial plot in Mogappair is ready to be bagged at an average rate of Rs. 4,980 sq.ft which is somewhere around 1.2 crore.
The introduction of the Metro line which includes stations in areas like Koyembedu, Arumbakkam and CMBT, stands create good connection with Mogappair location. The access to these places from Mogappair has been simplified through metro train service. The NorthWestern parts of chennai can be accessed through the Metro Railways bypassing the traffic. The Line-3 of Metro project in Mogappair has been proposed to be the best solution to time consuming road way access. This particular line runs from Mogappair to Thiruvanmiyur and is estimated to overcome the future demands. Apart from the modern train facility, the traffic bottlenecks are overcome by the new improvised road projects that have been commenced in the Nolambur and Mogappair East bus terminus.
Residential market trends
With a wavery residential demand, Mogappair has ample number of apartments and independent houses satisfying the needs. Specs of residential plots are also available in this location. The residential portion of Mogappair is all set to experience a tremendous growth. Various construction projects by KG Signature City, Citilight Meadows, Jain Sunderbans and AKS Serenity have been in the process of fullfilling the needs of the residential demand in Mogappair. The upcoming projects like BBCL Vajra, S and P Essence, Fomra Celebration, Esta The One, KG Cosy Homes, and BSR Nerkundram which are additional spotlights.
A 1-3 BHK apartment ranges from Rs 3,800 per sq. ft. to Rs 4,400 per sq. ft. at an average scale, which would be estimated to be Rs 18 lakh to Rs 67 lakh. One can purchase residential plots at a cheap rate probably around Rs 2,300 per sq. ft avg. When compared to apartments in Mogappair , purchasing Individual houses is a great deal. In fact it’s the most expensive in this locality which are in the market at an average rate of Rs 4,800 per sq. ft. to Rs 5,070 per sq. ft. , mounting to a price range of Rs 15 lakh to Rs 80 lakh.
Mogappair welcomes the student as well as the IT mass which has made the rent culture to be at an active pace. The rent prices for individual houses range from Rs 7,000 per month to Rs 15,000 per month whereas for a 2-3 BHK unit, it is from Rs 10,000 per month to Rs 17,000 per month.
The Educational Institutions in Mogappair has rised Mogappair into an educational hub which entices plenty of property buyers to own a property in this area. It is high time to invest in Mogappair as it continues to cultivate a great deal of demand.
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