Waiting to buy an apartment in Chennai? Are you confused with a lot of options to choose from? Worry not for here are 7 rapidly-developing real estate centers at Chennai for you to invest in. Buying an apartment at one of these areas will prove to be a wise and sensible choice. The locations have been listed after careful evaluation of the area with respect to the real estate growth and the price/sq. ft. by Team Urban Tree.
Porur is well connected with the Chennai city with major artery roads. The Arcot Road connects Porur with Vadapalani, Kodambakkam and Nungambakkam while the Mount-Poonamallee Road connects Guindy at one end and Poonamallee at the other end of the road. The area has continuous water supply and its major source is the Porur freshwater Lake. The real estate growth at Porur is growing at an exponential rate and will become one of the most sought-after areas in Chennai.
Distance from Guindy: 9.1 K.M via Mount-Poonamalle Road
Average Price/sq.ft: 5300- 5500 Rupees.
Landmarks: Sri Ramakrishna Medical College and Research Institute, Ramanatha Easwarar Temple, Cognizant, Dell and etc.
Perumbakkam is located near Sholinganallur and is fast becoming a developing real estate center in Chennai. The real estate scene in Perumbakkam gained a huge boost after major construction companies realized the potential for real estate development at Perumbakkam and initiated large-scale housing projects.
Distance from Guindy: 14 K.M via Velachery- Tambaram Main Road
Average Price/sq.ft: 4400-4600 Rupees.
Landmarks: Perumbakkam has a number of luxurious villas such as Maple Villas, Casa Grande and etc.
Located on the OMR stretch, Perungudi is fast becoming a great place for real estate investment. The IT establishments and the easy accessibility with all areas of the Chennai has made Perungudi a real estate hub. Software and IT professionals prefer Perungudi for settlement and the OMR stretch is built wide so as to ease traffic congestion. Buses and Share Autos connect Perungudi with important IT centers such as Sholinganallur and Siruseri.
Distance from Guindy: 7.5 K.M via MGR Main Road.
Average Price/sq.ft: 5900-6100 Rupees.
Landmarks: Donut House, Savoury Sea Shell, Hotel Saravana Bhavan and etc.
Thoraipakkam is located at the IT Expressway and in close proximity to Perungudi, Pallikaranai, Palavakkam and Karapakkam. The area is well connected with every other area by the Rajiv Gandhi Salai. Public Transportation is easily accessible and buses or share autos can be hailed at any time. The GST Road can be accessed from Thoraipakkam via the Thoraipakkam-Pallavaram Radial road which also gives easy access to the airport from here.
Distance from Guindy: 11.9 K.M via Thoraipakkam- Pallavaram Radial Road.
Average Price/sq.ft: 5800-6000 Rupees.
Landmarks: DB Jain College, CL Metha Pharmacy College, APL Global School and etc.
Global Property Consultant Knight Frank mentioned in his report in 2012 that Medavakkam is the 6th largest destination for housing investment in India and also predicted that housing prices over here are expected to increase at an exponential rate of 103% from 2013-2017. Medavakkam is located near Sholinganallur and is easily accessible with other parts of the city as well. The area serves as a junction connecting several areas of the city such as Chrompet, Pallavaram, St. Thomas Mount and etc. IT companies have provided the boost for real estate development at Medavakkam.
Distance from Guindy: 12 K.M from Velachery Tambaram Main Road.
Average Price/sq.ft: 4500-4700 Rupees.
Landmarks: Dindigul Thalappakatti, Sangeetha Veg Restaurant, The Steak 1 and etc.
6. Maraimalai Nagar
Although far from Guindy, Maraimalai Nagar is in close proximity to Tambaram and Velachery. It is becoming known as “New Chennai” due to its rapidly developing housing establishments. Maraimalai Nagar houses the Mahindra Tech City and the manufacturing hub of the automobile giant, Ford. Though far, the area is well connected with the city by the GST Road. Real Estate Prices are estimated to appreciate at an impressive figure of 13.4 %( Source: Common Floors) per year.
Distance from Guindy: 35 K.M
Average Price/sq.ft: 3600-4000 Rupees.
Landmarks: Accenture, Ford, Mahindra World City, SEZ and etc.
Located between Guduvancherri and Vandalur, Urapakkam has become the focus for many construction and real estate companies since it showcases huge potential for development. The area is located at 8 kilometers from Tambaram and is connected well with the major areas of Chennai with efficient bus and railway services. The Real estate scenario at Urapakkam has grown voraciously and is foreseen to become highly developed within the near future. Investing now at Urapakkam is the right thing to do since it would ensure high capital appreciation for your money. It is often called the Gateway to Chennai.
Distance from Guindy: 25.9 K.M
Average Price/sq.ft: 3800-4000 Rupees.
So here is the list of areas that you need to invest in if you are thinking of taking up residence in Chennai! We hope that this has helped narrow down your choices for places to invest in!
If you are looking for a house to buy in Chennai, Urban Tree Properties is the place to go! Visit www.urbantree.in for more details and find yourself a magical home!