Rental Guide: Besant Nagar [Chennai]
If you wish to invest in a locality which offers impressive rental returns, then Besant Nagar shall sit high atop your list of preferred localities. A 2 BHK apartment, which was offered for Rs 20, 000-22,000 per months in April-June 2013 quarter, today can be rented at over Rs 25,000 per month. Besant Nagar area recorded a rise of 12 percent in rental values during the July-September 2013 quarter, as per Magicbricks Prop Index.
Located in South Chennai, Spaces in Besant Nagar offers calm sidewalks and breezy seashore. Over the past decade, the area has witnessed a significant growth in real estate. The high demand and the limited supply have pushed up the rental values in the area.
Besant Nagar is preferred because of its proximity to Old Mahabalipuram Road (OMR) and East Coastal Road (ECR) which makes it accessible to other parts of the city. Besant Avenue Road is another road that connects the area to the Grand Southern Trunk Road (GST) which leads to the International Airport and Railway Station. The area also houses one of the largest Bus Terminus from where over 80 buses operate on a regular basis.
"Besant Nagar offers rented accommodation from 800-5000 Sq Ft. On an average, a 2 BHK would cost Rs 25,000-35,000 per month, and a 3 BHK can be availed at the rent of Rs 27,000 to Rs 1 lakh per month and a 4 BHK for Rs 50,000 to 2 lakh.
"The rental values in Besant Nagar are highly depended on the facilities being offered. The furnished apartments offer movable and immovable furniture with kitchen electronic appliances such as dish washer, refrigerator etc. Facilities such as Internet / Wi-Fi connectivity, air conditioner, intercom facility are also being offered.
So who is buying? The location is in demand from High Net worth Individuals (HNI's) and expats preferring premium residences. Most developers attribute this demand to its leafy, well-planned roads, accessibility, retail options and a cosmopolitan crowd. Apart from this, the locality faces Elliot's Beach, the city's popular landmark. Because of this, the locality has not only been attracting crowds from within the city but also travelers and tourists from across the globe.
Besant Nagar has a police station in the vicinity that helps in the upkeep of security in the locality. The area offers good facilities including schools, banks and hospitals and a number of restaurants alongside the beach.