Is Vellore Good for Real Estate Investment?
Vellore is the administrative centre of the district of Vellore in Tamil Nadu. The 3rd most populous district in Tamil Nadu (after Chennai and Kanchipuram) is a wonderful concoction of tourist attractions, renowned hospitals, and old forts.
The Central and State Government’s investment in infrastructure has expanded the market for real estate in various Tier 2 cities across the country including Vellore. Vellore is home to various industries, schools, colleges and reputed medical facilities. The city also enjoys robust transport connectivity via developed railways, roadways and airways. Vellore has recently become a hotbed for real estate investment. Learn more about real estate investment opportunities in the sections below.
Top Reasons to Invest in Residential Real Estate in Vellore
Here are some of the reasons why your real estate investment has great growth opportunities in Vellore:
- Educational & Employment Hub
The city is well known for its elite technological and medical institutions, including Christian Medical College and Hospital and Vellore Institute of Technology. Moreover, it is home to hundreds of tanneries and is one of the most notable producers of finished leather goods. In addition Vellore houses various industrial units that contribute significantly to the economy of the district and the state.
- Excellent Transportation
Vellore is well connected to other parts of Tamil Nadu and the country via roadways and railways. The NH-46 (Bangalore-Chennai route), NH-4 (from Ranipet to Chennai), and Cuddalore-Chittoor are national highways that pass through Vellore. With efficient private and government bus services, Vellore is connected to important cities in the states of Tamil Nadu, Andhra Pradesh, and Karnataka. In Vellore, there are two bus terminals: The Central Bus Terminus, which is next to the CMC Hospital, and the Town Bus Terminus (under Vellore Municipal Corporation).
The nearest airport is the Chennai International Airport and Tirupati International Airport.
Investment Opportunities in Residential Real Estate in Vellore
These localities in Vellore have high demand and growth in residential real estate investment:
- Ranipet
Ranipet is a well-known industrial hub and neighbourhood in Vellore. It comes with excellent connectivity. The two highways in the area are NH75 and NH132B. The adjacent cities include Arcot, Vellore, Sholingur, and Tiruvethipuram. In this area, you will find all kinds of amenities like hospitals, banks, schools ATMs, restaurants, etc.
- Walajapet
Walajapet is situated in the Walajapet Block of Tamil Nadu’s Vellore District. The closest cities include Arcot, Sholingur, and Tiruvethipuram. The two adjacent highways are NH48 and NH132B. This location has various hospitals, schools, colleges, and other amenities. It is close to Vellore as well as Chennai by road.
Things to Consider before Investing in a Residential Property in Vellore
You should consider the following few pointers before investing in residential properties in Vellore:
- Return on Investment
The long-term gain and appealing ROI are two of the most widely used justifications for real estate investing. The ROI is the most important thing to take into account when looking to purchase real estate as an investment. Set your expectations for earnings before investing in real estate, as this will assist you to select the type of property to buy.
- RERA Authentication
The RERA Act was passed in 2016 to safeguard property buyers from fraud. As a buyer, it is crucial to assess the developer’s background, track record of keeping to commitments, and reliability before making a property purchase.
By checking the RERA number and date provided on government website, you can find the specifics of your preferred property on the Tamil Nadu RERA website. This will help you to verify the authenticity of the property and credibility of the developer.
