A popular locality in South Chennai, Velachery’s real estate growth can be attributed to the expansion of the IT sector in the area. It is an important place connecting the Old Mahabalipuram Road and the Grand Southern Trunk Road.
Some landmarks of note here include the Indian Institute of Technology and the Velachery Lake.
Did You Know?
Velachery means a community of Vedas, as this place is said to have housed priests who taught the sacred Vedas. It still carries a sense of serenity and peace with its lake and marshlands.
Commute
Velachery is well connected to the rest of the city via Velachery Mass Rapid Transit System (MRTS). City buses connect the area to the CBD. Private taxi services are also available in this area.
Lifestyle
Velachery falls under the special economic zone and has many IT offices in the area. Besides, the fact that IIT Madras is around the corner makes it a popular residential destination for students as well. There is the famed Phoenix Mall with a multiplex, amusement parks for children, and much more. There are plans for a Monorail connecting Velachery with Vandalur, via Pallikaranai, Medavakkam and Tambaram. A skywalk and broader roads are also on the anvil.
Eating Out
There is a variety of dine-in as well as home delivery options available here. From high-end places such as Willow’s in the Westin to Coal Barbeques, Velachery has dining options for all age groups and all occasions.
Top Projects
Schools/Educational Institutions
• Velachery KS Hospital
• Xcellent care Hospital
• Helios Hospitals Private Limited
Hospitals
• St. Francis Xavier Matriculation School
• AGR Global School
• D.A.V. Public School, Velachery
The Real Estate Market
Due to its proximity to the IT corridor, rentals are much in demand. Thus, it is a good option for both end-users and investors. On average, the property prices in Velachery are in the range of Rs 5,500-7,385 per sq. ft.
What to Expect
A popular residential location, Velachery has lately started to emerge as a commercial location too. Additionally, it is also one of those rare places in the city, which offers a lake and bird sanctuary. With infra developments in the pipeline, Velachery is expected to witness a surge in prices in the times to come.