A slew of leading real estate developers has recently ventured into plotted land development projects in Chennai. These include the House of Hiranandani, Tata Housing, and Shriram Properties. The reasons? Better cash flow and faster sales.
What’s in it for the buyers? Well, higher appreciation potential, flexibility, and easy exit options. And with leading names entering the market, the scene is not as murky as it used to be in the past.
So, if you too are planning to make it big in real estate, we have shortlisted three of the best markets in Chennai based on availability and affordability.
Oragadam
Average price: Rs 3,500 per sq. ft.
Price index: Mid-segment
Located on the outskirts of Chennai, Oragadam is the biggest automobile hub in South Asia. Nestled between the Grand Southern Trunk Road (NH 45) and NH4, it is one of the fastest growing suburbs in the city.
The area is home to over 22 Fortune 500 companies.
Connectivity: In terms of connectivity, it has sound road and rail connectivity to other parts of Chennai. It enjoys good accessibility to the Koyembedu Bus Stand, and the Chennai Central and Egmore Railway Stations. Additionally, the Tambaram and Chromepet Bus Stand are also in the vicinity. The international airport is about an hour away from here.
To further improve connectivity, the Tamil Nadu government is also building the Oragadam Industrial Corridor Road, which is likely to catalyse industrial activity in the Oragadam-Sriperumbudur cluster.
Infrastructure: The area has a sound social infrastructure with several educational institutes like the Doveton Correy Boys Higher Secondary School, Don Bosco Matriculation Higher Secondary School, and Chennai Corporation Higher Secondary School. Some of the popular hospitals in the area are Amrit Hospital, Abhijay Hospital, and Stanley Hospital.
Real estate market: The average property values in Oragadam range from Rs 2,800- 4,200 per sq. ft.
Popular DTCP-approved plot projects in the area include:
• Tata Crescent Enclave: Rs 2,250 per sq. ft.
• Hiranandani Parks – Tierra: Rs 15 Lakh onwards
• Indira’s Detroit City: Rs 1,275 per sq. ft.
Guduvanchery
Average price: Rs 3,250 per sq. ft.
Price index: Low to mid-segment
Next, we have Guduvanchery. Situated along the Tiruchi-Chennai Highway (NH-45), it has become one of the fastest growing residential areas between Tambaram and Chengalpattu.
Falling under the purview of Chengalpattu taluk, it is surrounded by numerous lakes.
Connectivity: Guduvanchery boasts 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 area is primarily dominated by the professionals working in Sriram IT Park and nearby automobile companies as well as students from nearby educational institutions and universities.
Infrastructure: Guduvanchery is blessed with rich social infrastructure facilities like schools, colleges, banks, day-care centres and healthcare centres.
Real estate market: Property values here are comparatively affordable with plots dominating the property spectrum. Property prices are in the range of Rs 2,500-4,000 per sq. ft.
Some of the popular plot projects are:
• JBM Dakshin Nagar: Rs 1,150 per sq. ft.
• Abi Krishna Nagar: Rs 1,600 per sq. ft.
• Shree Mayil Vaganam Nagar: Rs 1,400 per sq. ft.
(Note: All the plots projects are DTCP-approved)
Siruseri
Average price: Rs 2,600 per sq. ft.
Price index: Low to mid-segment
From a sleepy suburb to a realty hotspot, the metamorphosis of Siruseri has been nothing short of remarkable. The SIPCOT IT Park has resulted in an exponential development of the area. Located between Navalur and Kelambakkam, it is after the end of the IT corridor of Chennai along the OMR.
Connectivity: Siruseri is about 25km south of Chennai. It enjoys bus connectivity to other parts of the city. The nearest bus station is on the OMR, outside the SIPCOT IT Park. To further improve connectivity, it has been proposed that Phase II of the Chennai Metro is likely to have one of the corridors from Madhavaram to Siruseri.
Infrastructure: On the social infrastructure front, Siruseri enjoys proximity to universities like SRM University, Hindustan University, and SSN University. Some of the renowned schools in the vicinity are PSBB Millenium, BVM Global, and Velammal Global.
Real estate market: At present, the property values here are in the price brackets of Rs 2,200-3,000 per sq. ft.
Some of the popular plot projects are:
• Premier Engineers Park: Rs 2,850 per sq. ft.
• SUPERB Avenue: Rs 1,750 per sq. ft.
• Vijaya Residency Extension: Rs 2,500 per sq. ft.
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Further reading: Chennai: Plot Your Dreams with These Luxurious Plots!
