A Smart Investor’s Guide to CMDA-Approved Plots in Chennai
The real estate market of Chennai has undergone growth that is simply beyond comparison. It is driven by several factors, from rapid urbanization to impressive infrastructural advancements. The strategic location and its prominence as a vital industrial and IT hub have led to significant townships and gated community plots in Chennai.
How is Chennai’s Real Estate Market?
In 2023, Chennai witnessed a 74% increase compared to the previous year, owing to the launch of 16,153 residential units, showcasing growing developer confidence in the market's potential.
Every year, people migrate to Chennai in search of a better lifestyle and improved job and business opportunities. It has led to an increase in the demand for customizable residential spaces in the city as more people want to settle down here with their families. Hence, residential plots have emerged as one of the most attractive real estate investments in Chennai.
Plots provide you with the freedom to design and build a home as per your preferences. They also allow you to enjoy the potential for high returns due to rising property values. Gated community plots in Chennai are especially present an ideal investment prospect for both home seekers and investors.
What are the Benefits of CMDA-Approved Plots?
According to the Chennai Municipal Development Authority, the expanded Chennai Metropolitan Area (CMA) comprises the Greater Chennai Corporation, Avadi Corporation, Tambaram Corporation, Kancheepuram Corporation, 12 Municipalities, 13 Town Panchayats, 1 Special Grade Town Panchayat and 22 Panchayat Unions (Comprised of 1321 villages). The present extent of CMA is 5904 sq. km. Mentioned below are the key benefits of buying plots approved by CMDA: -
Enhanced Security
Security concerns are among the major issues associated with investing in stand-alone independent plots. If you plan to use the plot simply as an investment asset, it is prudent to have some kind of security features at the property to avoid the risks of encroachment or vandalism.
One of the best aspects of gated communities is its security. Guards and security personnel are on duty on its premises round-the-clock. The constant vigilance ensures unauthorized individuals do not enter the community. The controlled access points present at gated communities ensure that only residents and their guests can enter the community, thereby adding a layer of security. The enhanced security factor elevates the appeal of gated communities among home seekers as well.
Enriched Quality of Life
Urban dwellers often search for homes that can help improve their overall convenience and quality of life. Gated communities are designed with this in mind. They feature expansive green spaces, manicured lawns, and a range of amenities that help the residents elevate their standard of living. With time, an increasing number of young professionals are moving to Chennai in search of lucrative jobs and a better standard of living. These people often prefer to buy gated community plots in Chennai to build homes tailored to their needs and enjoy an upgraded living standard.
A well-demarcated plot with clear documentation and titles is likely to witness a considerable appreciation in value over time, ensuring investment safety. To make sure that the property you select has a clear title, you must choose to invest in CMDA-approved plots for sale in Chennai. The approval would provide you with legal, financial, and infrastructural protection.
What is CMDA?
Chennai Metropolitan Development Authority, also known as CMDA, is the nodal agency responsible for regulating developments in the Chennai Metropolitan Area (CMA). It is responsible for overseeing the planned development of Chennai. CMDA has spearheaded significant changes over the last two decades by establishing a vision and agenda for the growth and development of the city.
Originally, CMDA was formed in 1972 as an interim body called the Madras Metropolitan Development Authority (MMDA). CMDA was eventually established as a blueprint for the planned urbanization of Chennai. CMDA has also delegated its power to local authorities within the CMA for issuing planning permissions to small/ordinary projects in multiple real estate categories, including residential.
Why Does CMDA’s Approval Matter?
CMDA approval assures that a specific piece of land or a plotted development conforms to the guidelines and regulations set by the authority. It denotes that the plot has been thoroughly verified for land titles. As a result, as you buy a CMDA-approved plot for sale in Chennai, you will be guaranteed that the land has a clear title and is free from disputes. Checking for approval is important no matter whether a plot is a standalone property or a part of a gated community.
CMDA-approved plots are ideally located areas with proper infrastructure, including sewage systems, water supply, roads, and electricity are in place or planned. These areas are more likely to have amenities like hospitals, schools, and parks, which help improve their value. Hence, you can enjoy better ROI from a plot that is CMDA-approved. Fortunately, CMDA-approved plots in Chennai are up for sale at reasonable prices by top real estate companies.
Author bio: The author has extensive knowledge about the real estate industry as she has been working in the field for several years. She runs a blog about real estate discussing all aspects related to the industry.
Comments
0 comment