A recently released report from Knight Frank and Khaitan and Co points out that Tamil Nadu is the most preferred destination for renting a property with the state accounting for 16.5% of the 21.72 million urban rented households in India. It is miles ahead of Andhra Pradesh, its closest competitor, who comes in at 13.8%.
Chennai has expanded significantly over the last few years with a steep rise in employment opportunities. Subsequently, social infrastructure has also improved with more choices for educational institutions and healthcare that offer a unique lifestyle to prospective homebuyers.
Chennai’s impetus on infrastructure and upcoming suburbs are a testament to the fact that the city is a preferred choice for the working professionals who come here from all over India. Most seek affordable homes that don’t compromise on quality and neighbourhoods that allow for easy commutes and active social life.
In this post, we list the top five affordable localities that Chennai has an offer for property seekers.
Pallikaranai
Pallikaranai was featured as one of India’s ‘top residential hotspots’ in a 2019 report released by Jones Lang LaSalle as an area that has a well-developed social infrastructure, excellent connectivity, and is affordable.
Located near the IT corridor of Old Mahabalipuram Road (OMR) as well as the automotive manufacturing region that is the Grand Southern Trunk (GST) Road, Pallikaranai has emerged as one of the most preferred destinations for property investors. It is also close to other employment hubs like Velachery, Medavakkam, Karapakkam, and Perungudi, among others. Due to this, Pallaikaranai has seen a massive surge in residential housing in both the affordable and luxury segments.
Pallikaranai is connected to other parts of Chennai by the Pallavaram-Thuraipakkam Main Road, Velachery Main Road, and the Inner Ring Road. Guindy and Chrompet bus stands are nearby while Tambaram and Guindy railway stations are within a 15-kilometre radius. Pallikaranai is also not far away from Alandur and St Thomas metro stations. The area became part of the Chennai Metropolitan Corporation in 2011 and had a well-managed civic infrastructure.
Pallikaranai has well-regarded educational institutions like Narayana Vidyashram and Vrithi Montessori. Hospitals include Dr Kamakshi Memorial Hospital and V Cure Hospital.
Property prices in Pallikaranai currently range from Rs 2,800 to Rs 7,500 per sq ft.
Guduvanchery
Guduvanchery is located right on NH-45, making it one of the most sought-after residential areas in Chennai today. Aside from an unbeatable location, Guduvanchery is well-connected via road through ample bus and rail links and is easily accessible from prime neighbourhoods like Tambaram and Chengalpattu. Guduvanchery also scores high on natural beauty with several lakes and parks like Nandivaram lake and Potheri park nearby.
Guduvanchery is located 35 kilometres away from the city centre but is served by the Guduvanchery railway station as well as numerous buses. Employment options in the vicinity are aplenty with Accenture, Ford, and Mahindra World City among others which can be accessed via OMR.
Guduvanchery has good educational institutions like St. John’s Matriculation School and SRM Public School. Options for healthcare include Nandivaram Government Hospital and Christudas Hospital.
The average property price in Gudavanchery is approximately Rs 4,400 per sq ft.
Oragadam
Oragadam is known as a hotspot for the automotive industry with companies like Apollo Tyres, Toyota, Royal Enfield and many others having their manufacturing units here. In the last few years, the Sriperumbudur-Oragadam belt has witnessed a rapid expansion of industries and subsequently an increase in the working population as well. Due to the attractive employment opportunities it presents, Oragadam has grown into a buzzing residential neighbourhood.
Located about 50 kilometres away from the city centre, Oradam is linked to many areas via the Vandalur-Walajabad Highway, GST, and Singaperumal Koil-Tiruvallur Highway among others. Koyambedu and Tambaram bus stands are close by, and so are the Chengalpet, Chennai Central and Chennai Egmore railway stations. The demand for property in Oragadam is expected to shoot up further with the newly established GreenBase, an industrial and logistics business park of the Hiranandani Group, picking up momentum.
Oragadam has reputed educational institutions like P S Temple Green Vidyashram, Doveton Correy Boys Higher Secondary School and Chennai Corporation Higher Secondary School. It has well-known hospitals like Stanley Hospital and Amrit Hospital. With excellent social and civic infrastructure, Oragadam will continue to attract the discerning buyer making it an excellent choice for future investments.
Property prices in Oragadam currently range from Rs 1,600 to Rs 6,200 per sq ft.
Mannivakkam
Mannivakkam lies close to well-established and upcoming areas like Vandalur, Kundrathur, Potheri, and Mudichur and is increasingly attracting homebuyers with its affordable pricing, and remarkable road connectivity. Its accessibility to employment is a big plus being easily reachable from industrial areas like Oragadam and Sriperumbudur as well as from IT hubs like Mahindra World City.
It is connected to commercially busy roads like GST and to important highways like ORR, State Highway 48, NH-48, and NH-45 which link it to other cities. Vandalur, Guduvancheri, and Tambaram railway stations are all within a five to eight-kilometre radius of Mannivakkam. It also has many bus stands within easy reach, including Manivakkam junction bus stop and Karasangal bus stop.
Mannivakkam has well-known schools in its vicinity like the PERI school in West Tambaram, Alwin International School in Padappai and Narayana e-Techno School in Mudichur. Manivakkam has many choices for healthcare as well with the Hindu Mission Hospital, Deepam Hospitals, and Sayee Hospital, among others being nearby.
Property prices in Mannivakkam currently range from Rs 3,000 to Rs 4,800 per sq ft.
Perambur
Perambur, which means ‘city of bamboo,’ derives its name from the vast expanse of the bamboo forest that once covered the area. It was a prominent British settlement in the 19th century with a focus on locomotive manufacturing centre and continues to be one of the oldest and most well-planned areas in Chennai. Perambur is known for being a commercially active centre and offering plenty of affordable residential choices.
Perambur is exceptionally well-connected and is located just eight kilometres away from the Central Railway Station and Chennai Egmore station, and around six to ten kilometres away from important areas like Kilpauk, Anna Nagar, Egmore, and Madhavaram. The Perambur railway station is a historical landmark along with the Perambur Loco Works station.
The Perambur flyover, one of the tallest in Chennai, plays a significant role in easing traffic along with major roads like Paper Mills road, Madhavaram High Road, and Perambur Main Road that connects the area to different parts of the city. Perambur is located about 12 kilometres away from Koyambedu bus stand.
Employment options are aplenty with the Tamil Nadu Industrial Corporation and many IT companies in the area.
Perambur offers a well-planned civic infrastructure with well-planned sewage systems and water connections. It boasts reputed educational institutions like Don Bosco Higher Secondary School, Vivekananda Vidhyalaya, and St Mary’s Group of Schools. Perambur is home to the Southern Railway Headquarters Hospital apart from others like Sen Hospital and Abhijay Hospital, which ensure excellent healthcare options.
Property prices in Perambur currently range from Rs 2,400 to Rs 9,500 per sq ft.
