About 26% of users showed interest in plotted developments in Chennai in H1 2020 as against 18% during the same period in 2019, revealed RoofandFloor research. Thanks to branded players entering the segment. Unlike earlier, where smaller developers usually launched plot projects, today many leading developers have ventured into the segment. This has instilled confidence in many investors. Not to mention, land is an appreciating asset.
Interestingly, a majority of users were looking to invest in a plot within Rs 40 Lakh.
Top 3 micro-markets
Based on user interest, let’s look at the top three micro-markets for plotted developments in Chennai.
Chengalpattu
Once a significant trading and commercial hub that had silk weaving, tanneries, and cotton factories, Chengalpattu maintains its industrial tradition, having transformed into an epicentre for IT, automotive, and manufacturing.
Chennai airport is only an hour’s drive away and the railway terminal at Chengalpattu is connected to all the prime areas of Chennai. Further, with the proposal for a new bus terminal at Kilambakkam, a second airport nearby, and a new Chengalpattu-Airport expressway on the anvil Chengalpattu’s prospects as a property investment destination look promising.
On RoofandFloor, there are about 180+ plots for sale in Chengalpattu. The average price varies in the range of 8-35 Lakh.
Some of the popular plot projects are:
- Sri Mangal Avenue by Vishwak Properties – Rs 5 Lakh onwards
- Sri Padmalatha Avenue by Ranga Developers – Rs 19 Lakh onwards
- Vijay Raja’s Sanctuary by Vijay Raja – Rs 4 Lakh onwards
Avadi
Located 23km from Chennai, Avadi is one of the oldest areas in the city and was mostly known for being home to various defence establishments and manufacturing units. Today, Avadi has expanded to encompass the booming IT industry, a process that is changing its landscape.
With its robust social infrastructure that includes well-known educational and healthcare institutions, a plethora of employment opportunities, and proximity to well-developed areas, Avadi is an attractive residential area for young professionals with small families. More so, because Avadi still continues to be an affordable property destination.
On RoofandFloor, there are about 44 plots for sale in Avadi. The average price varies in the range of Rs 5-40 Lakh.
Some of the popular plot projects are:
- Freedom Sri City by Freedom Groups – Rs 19 Lakh onwards
- VGN Spring Field Phase II by VGN Homes Private Limited – Rs 17 Lakh onwards
- Poonamallee Farms by Color Homes – Rs 20 Lakh onwards
Guduvanchery
Guduvanchery is located right on NH-45, making it one of the most sought-after residential areas in Chennai today. Itboasts of fast connectivity to the rest of the city via the Vandalur-Kelambakkam Road that connects it to the Old Mahabalipuram Road (OMR). While it has its own railway station with local trains running every hour, frequent local buses also serve the area.
The micro-market also scores high on natural beauty with several lakes and parks like Nandivaram lake and Potheri park nearby.
Employment options in the vicinity are aplenty with Accenture, Ford, and Mahindra World City among others which can be accessed via OMR. Guduvanchery also boasts of a robust social infrastructure with ample educational institutions and healthcare facilities.
On RoofandFloor, there are about 160+ plots for sale in Guduvanchery. The average price varies in the range of Rs 5-40 Lakh.
Some of the popular plot projects are:
- ABS SK Avenue Phase II by ABS Estates – Rs 9 Lakh onwards
- Abi Krishna Nagar by Amazze Realestates and Builders Private Limited – Rs 14 Lakh onwards
- KRU Golden Nest Villa Plot by Golden Nest Realtors – Rs 18 Lakh onwards