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FAQ: Are projects in Chennai good for rental purposes? - Property Hotline
Posted
June 14, 2016
Views
294
Likes
4
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June 14, 2016
294
4
1.36%
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5:25Now PlayingBe Un Confused
Expert: Ashutosh Limaye, National Director of Research, JLL
Q: I bought a 3.5 BHK property in Hiranandani Park in Oragadam, Chennai in 2013 for Rs. 1.1 cr. I can't find tenants for the property. What are the future prospects of this area - both for rentals and investment?
Answer: There are high and low phases in a renting property hence you shouldn’t worry and wait for good tenants. The project is good but the rental is slow due to presence of multiple under construction properties. The oversupply in the market is the reason you can expect modest appreciation in the area. Hence you should wait as you will get good tenants for the area.
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