Guide for Residential Real Estate Investment in Ranipet

The city of Ranipet remains a linchpin of an overall socio-economic development in this state of Tamil Nadu. Located nearby its capital city of Chennai, this suburban locality has become an epicentre of the industrial boom as witnessed by this state. 

This place is home to an expansive leather industry that contributes majorly to the sustainable development capacity of the city. Moreover, Ranipet currently has one of the largest ceramic plants in the entire south India. Additionally, the electrical and petrochemical industries here have also recorded pivotal commercial success.

Therefore, people are showing interest in Ranipet for potential employment opportunities. Consequently, real estate developers are also finding this locality to be a lucrative alternative. So, investing in residential property here can be beneficial for you. 

Why Consider Investing in Ranipet Residential Real Estate? 

Some of the key aspects of why investing in the residential real estate sector of Tamil Nadu can be beneficial for you had been discussed below.

• Successful Business Cluster

For a developing nation such as India, establishing industrial towns with proper amenities and resources is crucial for its long-term growth objectives. Ranipet has, interestingly, played a successful role in this regard. A presence of numerous large-scale and small-scale businesses in this area had left a positive impact on overall discretionary expense capacities of the residents here. 

When compared to an average cost of living in Ranipet and its surroundings, such an increase in average household income can factor into this rise in the real estate boom prevalent here. Additionally, as the nearby Vellore is being transformed into a Smart City under the schemes of the central government, Ranipet also enjoys an improved resource allocation capability. As a result, if you are considering entering the real estate investment market, this city can be an ideal starting point. 

• Push for Environment Consciousness 

Keeping the well-being of Ranipet’s residents in mind, the concerned authorities here have paid significant attention towards ensuring a clean and healthy environment. Therefore, a number of crucial steps have been taken in this regard to cut down on pollution and find an alternative source of clean energy.

To elaborate, during the end of the year 2022, Ranipet claimed a world record by cleaning off around 187 tonnes of plastic waste in just a matter of three hours. The local authorities have noted that clearing such offscourings is a primary and crucial step towards increasing the green cover of the locality.

Similarly, noting the importance of renewable sources of energy, increased awareness towards the usage of solar panels has been noticeable here. For instance, Bharat Heavy Electricals Limited [BHEL], one of the most prominent industrial presences in Ranipet, have taken significant measures in installing solar plants to reduce the reliance on traditional energy and curb carbon emission into the environment. Similarly, the leather units here also are opting for solar alternatives, which can significantly bring down the electricity consumption of the area. 

• Improved Healthcare System

The medicare field of Ranipet has also documented significant progress in the last decade. One of the most renowned examples of this development can be observed in the Scudder Memorial Hospital. Established in 1866, it still remains the quintessential touchstone of the healthcare sector of this place. With an around-the-clock open pharmacy and a state-of-the-art emergency department for trauma care, this hospital remains trustworthy for the residents in their hour of need. 

Residential Real Estate Investment Opportunities in Ranipet 

You can consider investing in the residential real estate sectors of these localities of Ranipet as mentioned below:

• Manthangal

Manthangal has become one of the fastest-growing real estate property centres of Ranipet, with some of the most reputable builders of Tamil Nadu showing interest in this place. Due to a top-of-the-range transportation system, residents can find it easier to hit the streets with both private and personal vehicles. Moreover, Manthangal is home to some of the renowned schools of Ranipet. Therefore, families with younger members will find residential properties here especially lucrative. 

• Muthukadai

The serene and peaceful atmosphere of Muthukadai has placed the locality at the top of the list for real estate developers in Tamil Nadu. Due to its ambience, a thriving hotel industry had also been built around this place, attracting tourists from all around the world. Therefore, if you are planning to utilise a residential property here for a source of steady monthly rental income, you can consider this place to be an ideal option. 

Due to the easy availability of amenities and facilities here, the resale value of your property can also increase exponentially. 

Things to Consider Before Ranipet Residential Real Estate Investment Venture 

Before you invest in the residential real estate of this locality, it is important that you keep certain essential aspects in your consideration. These factors have been discussed below.

• The reputation of the Builder

Due to the easy access to the internet, now it has become quite easier to conduct a background check on the real estate developing agency with whom you are conducting your business. Therefore, you must run a thorough check about the previous projects done by this builder, and whether the outcomes had been satisfactory. 

The reliability of the builder can significantly affect the standard of living in the property bought. For one, the construction quality of the building is reliant on the kinds of raw materials being used. Moreover, the water and electrical connections need to be proper to ensure a safe and secure stay. Therefore, you must frequently visit the site of construction in person to make sure you are making a value-for-money transaction. 

• Quality of the Neighbourhood 

It is also beneficial to keep a tab on the quality standards of the neighbourhood where a property is located. Therefore, consider getting in touch with the long-time residents of the area to have in-depth knowledge of the place.

You should also try to learn about whether there is a comparatively higher rate of crime in this locality. Try to opt for a property which is not significantly far away from the local police station. Additionally, check whether there is a scarcity of basic amenities in this locality, or if the streets here often witness a traffic deadlock. 

• RERA Authentication of the Property 

The Real Estate (Regulation and Development) Act was introduced in the Indian Parliament in 2016 in order to establish a regulatory measure for the real estate industry in this country. The primary concern of this act is to encourage investment in this sector while making secure the interests of the homebuyers are never compromised.

As a crucial step of monitoring, the rules and regulations under this act mandate that every residential and commercial property of a state has to be registered under its Read Estate Regulatory Authority. Therefore, when you are investing in a property in Ranipet, make sure that you verify its details on the official RERA website of Tamil Nadu. 

• Additional Costs of Purchasing a Property 

When you are planning to invest in a property, keep in mind that a number of additional costs will also have to be paid over and above the value of this real estate itself. Some of these might include:

• Advance maintenance fee
• Parking fee
• Registration charge
• Stamp duty, etc.

Therefore, when you are making a fiscal estimation regarding your investment budget, it is ideal to keep these additional factors in consideration. This way, you will be able to make an adequate calculation of the capital needed for the initial investment.

Stamp Duty and Registration Charges for Residential Real Estate in Ranipet 

The stamp duty and registration charges of a property are decided by the state governments. So, if you are considering investing in Ranipet real estate sector, these fees as levied by the Tamil Nadu government had been discussed below.

Future Prospects of the Real Estate Sector in Ranipet 

A widespread drive for welfare development in the state of Tamil Nadu also played into the rapid growth in the standard of life here in Ranipet. For instance, the authorities have taken significant steps to ensure residents here can avail of their essential commodities without any hassle, and at a proper price. Moreover, a number of beneficial healthcare policies have been implemented in Ranipet, including special care units for mothers and children. 

On the other hand, substantial investment from leading brands in Ranipet has also ushered the way for continued development of its industrial sector. For instance, the noted electronic vehicle manufacturing company Ampere has decided to invest ₹700 crore for one of its plants in this locality over the coming decade. Similarly, a mega footwear manufacturing plant has also been unveiled here, under the state’s initiative to become a larger economy by 2030. 

As it can be understood from these pointers above, Ranipet is getting converted into an economical hotspot in India at a rapid speed. Therefore, some of the leading residential real estate developers are showing interest in this city, which is likely to grow manifold in the coming days. Therefore, if you are considering availing property here, it can be an informed investment decision. 

A Comparison Between Residential Real Estate and Other Asset Classes 

There is a number of alternatives available to a potential investor when considering a route map for higher returns down the line. Therefore, a brief comparison between several of these asset classes and residential real estate had been provided below:

• Residential Real Estate vs. Commercial Real Estate

Commercial real estate is generally leased out for a prolonged period of time, so you as an investor might need to spend a comparatively higher amount to ensure all the basic amenities are readily available for a mercantile tenant. On the other hand, the initial investment expenditure remains comparatively lower for residential properties. Moreover, historically, it has been easier and less time-consuming to find a tenant for residential properties than commercial ones.

Additionally, when you have invested in a real estate property used for residential means, you become eligible for certain exemptions and benefits under the Income Tax Act of India. However, no similar facilities are available for investing in commercial properties. 

• Residential Real Estate vs. Stocks and Mutual Fund 

Whereas the stocks and mutual fund market can provide you with comparatively higher returns, this sector is notable for its volatility. Therefore, if you are investing in this field, you have to calculate the risk-tolerance potential of your portfolio.

On the other hand, as a source of monthly rental income, residential real estate investment is a stable and comparatively predictable alternative. So, if you are a risk-averse investor, this can be a safer option for you between the two. 

• Residential Real Estate vs. Gold

Investing in gold and residential real estate both can be profitable options while allowing you a scope of portfolio diversification. The liquid market of gold makes it easier to map out both long-term and short-term financial goals as you invest. However, when it comes to residential properties, you can generally receive a significantly higher return in the long run. 

• Residential Real Estate vs. Bond 

As a tool of stable passive income, both residential property and bonds can be a reliable option for you. To elaborate, bonds can fetch predictable returns while safeguarding your capital investment if you hold them till the end of the period of maturity. So, there is a lowered risk of your portfolio getting negatively affected.

Residential real estate investment, on the other hand, is likely to fetch you a comparatively higher return on investment than bonds down the line. For your benefit, the difference between the crucial aspects of all these asset classes discussed above has been jotted down below:

Therefore, like residential real estate, if you are also interested in investing in low-risk bonds, consider navigating to the homepage of our website to browse the different top-rated bonds currently trading in the market. With us, you can rest assured that no additional or hidden charges are applicable. So, get registered and start your investment journey today. 

Steps to Follow While Investing in the Residential Real Estate Sector of Ranipet 

When investing in Ranipet’s residential properties, you may adhere to these steps as mentioned below for a hassle-free experience:

Step 1: Prepare your budget.

Step 2: Conduct proper research to have a shortlist of the properties of your interest.

Step 3: Visit these properties on-site. 

Step 4: Learn about the builder and how it has conducted its previous projects. 

Step 5: Consult a real estate expert about the future prospect of the neighbourhood and the resale value of property here.

Step 6: Make a final decision about the real estate in which you are willing to invest in.

Step 7: Check the RERA authenticity of the plot in question. 

Step 8: Conduct the paperwork and validate their authenticity.

Step 9: Make the transactions to claim the legal ownership rights of this property.

Step 10: Get insurance cover for your residential real estate. 

Final Words 

With a thriving socioeconomic standard, Ranipet has become a lucrative locality for residential real estate developers in Tamil Nadu. With state-of-the-art healthcare and transportation service, the residents here can lead a comfortable lifestyle here. Therefore, investing in residential properties here can be highly beneficial for you. 

Moreover, as an ideal method of portfolio diversification, such investment can be rewarding in the long haul. This way, even if certain asset classes face a significant setback in the market, your overall portfolio performance will not be affected adversely. 

Frequently Asked Questions