With a large-scale development and enhanced connectivity in the recent years, Chennai’s real estate market seems to be booming. Right now, investing in this city’s real estate is a highly lucrative prospect, and if you are considering it, here are 10 localities that you should look up.
Chromepet
In the last 4 to 5 years, commercial buildings, shopping complexes, and recreational facilities have sprung up in this locality. Chromepet already hosts a reassuring number of medical amenities and educational institutions, and the recent growth in other real estate projects is sure to skyrocket prices in the area.
Price: Between Rs. 3,853 and Rs. 5,955/Sq.ft.
Madhavaram
A few years ago, not many people would even consider moving to this peaceful locality in North Madras. But today, when traffic clogs almost every other road in Chennai, a property in Madhavaram can be a welcome reprieve.
The number of recreational facilities in this area is on the rise, and other amenities are improving rapidly as well. Of course, the real estate in this region is a lot more affordable than most other parts of Chennai, which is why the area is becoming so popular.
Price: Between Rs. 4,096 and Rs. 5,499/Sq.ft.
Avadi
Avadi Main Road is a popular investment location as it is located at a 15 to 20 minutes drive from places like Ambattur, Anna Nagar, and Nungambakkam. Public transport facilities in this area have greatly improved over the years, and properties in Avadi are priced much lower than those on the other side of the city.
This locality is popular among builders, and many multi-storied gated communities are coming up here.
Price: Between Rs. 3,048 and Rs. 4,198/Sq.ft.
OMR (Old Mahabalipuram Road)
This list wouldn’t be complete without the addition of Old Mahabalipuram Road, also known as the IT hub of Chennai. Property prices are constantly on the rise, and this area hosts the most number of ready-to-move-in homes in the city. OMR is also house to most of the IT companies in the city, making it one of the most frequented destinations in Chennai. Thanks to this, there is an increasing number of residential properties in the area.
Price: Between Rs. 3,372 and Rs. 5,784/Sq.ft.
Besant Nagar
One of the more expensive real estate clusters in Chennai, Besant Nagar, is sought after by many for its proximity to the beach. And with rapid improvement in infrastructure and easy access to schools, malls, hospitals, and other important facilities, this is one of the most popular (and expensive) residential areas in Chennai.
Price: Between Rs. 9,890 and Rs. 17,010/Sq.ft.
Korattur
Considered as one of the least polluted areas in North Madras, Korratur makes for a profitable investment decision as the area is densely populated, and homeowners are sure to earn substantially from renting out their property.
Price: Between Rs. 4,735 and Rs. 8,041/Sq.ft.
Gopalapuram
Gopalapuram is famous for being the residence of the former Chief Minister of Tamil Nadu, M. Karunanidhi. Thanks to this, and factors like easy connectivity, this is a prime residential and commercial locality in Chennai.
Easwari Library, which is perhaps the oldest library in the city, is located in Gopalapuram, and the area is also home to numerous schools, restaurants, and recreational amenities, making it a popular investment decision.
Price: Between Rs. 8,000 and Rs. 20,000/Sq.ft.
Pallavaram
On its own, Pallavaram may not be the best realty hotspot in Chennai. However, its proximity to places like Kundrathur, Anakaputhur, and Thiruneermalai make it an attractive investment destination.
The area is also a surge in many modern housing projects, and with growing infrastructure, it is sure to be a worthwhile investment a few years down the line.
Price: Between Rs. 4,800 and Rs. 5,556/Sq.ft.
Rutland Gate Road
The Rutland Gate Road in Nungambakkam is perhaps the most expensive locality in Chennai, thanks to which the area is witnessing rapid commercial development.
Brands from all over the world have set up shop in Rutland Gate Road, increasing the price of real estate in the area, and making it one of the most popular realty hotspots in Chennai.
Price: Most places cost upwards of Rs. 10,000/Sq.ft.
Thirumazhisai
While Thirumazhisai is far from being the most developed location in Chennai, infrastructure in the area is slowly improving, and the prospects of investing in this area seem promising.
And considering that the area still isn’t a hotspot for investment, property prices here are relatively low. So if you are looking to invest in property that will yield profits in few years, Thirumazhisai is the ideal option.
Price: Between Rs. 1000 and Rs. 6000/Sq.ft.
Choose wisely
Whether you are looking for a home, setting up shop, or simply making an investment that will prove useful in the future, be sure to study the realty clusters in different areas of Chennai thoroughly.
As a property buyer, it is important to explore your options carefully before investing. Be sure to do your research before you decide to part with your money.
All the top 10 locations are very nice to buy a home. Thanks for sharing