Overview of Omalur, Salem

Location and General Info

Omalur lies in Salem, a city in Tamil Nadu, India. It belongs to the bigger Salem metro area and is famous for its residential and commercial growth.

Property Rates and Trends

• Land Prices: The cost of land in Omalur, Salem ranges between Rs 1350 and Rs 2400 per square foot. Recently, there has been a drop in these prices over the past year and three years, showing a -6.9% change last year and a -10.0% change over three years.
• Residential Property Prices: Typically, residential properties go for around Rs 720 per square foot.

Available Properties

• For Sale:
  • Over 24 units such as flats and standalone houses are on the market.
  • These range from smaller units to larger homes, fitting many budgets.
• For Rent:
  • You'll find various housing options for rent, including one and two-bedroom houses.
  • Rent prices differ, including ₹6,500 for a 1,000 sq ft, 2-bedroom house and ₹7,000 for a 1,700 sq ft, 1-bedroom house.

Amenities and Facilities

• Residencies: Many residential developments are available, many listed on popular real estate sites.
• Amenities Nearby: There are schools, hospitals, and shopping areas due to the residential nature of the place.

Market Trends

• Fluctuating Prices: The drop in land prices over the past few years indicates a buyer's market. This suggests a good chance to buy or invest property in Omalur.

PropertyWala's Thoughts

Looking at real estate, Omalur in Salem has opportunities for buyers and renters. The falling land rates, along with various homes to choose from, make now a great time for investment. Yet, it’s a must to investigate the local market, infrastructure, and future plans before deciding. For renters, diverse housing is accessible at fair prices. All in all, Omalur gives a cost-effective balance and growth prospect, making it worth pondering for real estate or leasing needs.