Reforms in Government policies, Infrastructural betterment and other supportive factors have lead to the expansion of the real estate sector in Chennai. Despite of the rampant economic deceleration, the demand for residential and commercial spaces shows signs of consistency. With work commencing on the Phase-I of Metro and an elevated four lane link road (connecting Chennai Port to Maduravoyal); residential real estate indicates a positive space absorption in comparison to the previous fiscal year of 2010-2011. The scenario will remain stable for the upcoming quarter as well.The micro-markets of the city witnessed a higher space absorption with newer segments emerging in the backdrop of the IT/ITES, Logistics and Manufacturing sectors. Commercial real estate of Chennai currently holds an inventory of around 49 million sq.ft and will play host to a number of commercial projects in Chennai which are presently under the pipeline.Chennai Real Estate Market Drivers:
- Increase in IT/ITES, Manufacturing, Automobile sector workforce
- Rise in Infrastructure Developments Projects like Metro, Four lane link Road, Chennai-Ennore Port Road, etc.
- Greater investor participation in driving the end-users market
*Based on the research and study taken up team BharatEstates.co,m following are the synopsis of the residential price trends in Chennai (Dec’12-Feb’13):
| Location | Average price per sq.ft (in Rs.) |
|---|---|
| Adambakkam | 4500-5600 |
| Anna Nagar | 9800-10600 |
| Anna Nagar (WEST) | 5600-6600 |
| Arumbakkam | 3700-4750 |
| Ashok Nagar | 6800-7550 |
| Avadi | 2800-3550 |
| Brindavan Nagar | 4900-5800 |
| Chembarambakkam | 3800-4750 |
| Chitlapakkam | 3900-4550 |
| Choolaimedu | 4500-5600 |
| Chrompet | 2800-3750 |
| Guduvancherry | 2100-3220 |
| Indiranagar | 5500-7300 |
| K.K Nagar | 8700-9700 |
| Keelkattalai | 2800-3600 |
| Kelambakkam | 2500-3300 |
| Kodambakkam | 4300-5880 |
| Kolathur | 3400-5030 |
| Korattur | 3800-4500 |
| Kovilambakkam | 2900-3850 |
| Madambakkam | 3500-4200 |
| Madipakkam | 3900-4200 |
| Manapakkam | 4500-5000 |
| Mangadu | 3700-4300 |
| Medavakkam | 2600-3950 |
| Mogappair | 3900-5750 |
| Mylapore | 6900-8050 |
| Nanaganallur | 4500-5400 |
| Nanmangalam | 2400-3800 |
| Nungambakkam | 8600-9090 |
| OMR | 3500-4050 |
| Oragadam | 1950-2850 |
| Padur | 3800-4100 |
| Pallavaram | 3400-4200 |
| Perungudi | 4800-5300 |
| Ponamallee | 3800-5200 |
| Porur | 3400-5800 |
| Rajakilpakkam | 1800-3950 |
| Ramapuram | 4500-6700 |
| Saligramam | 4500-6550 |
| Sholinganallur | 3400-4950 |
| Siruseri | 1700-3450 |
| T.Nagar | 7800-9550 |
| Tambaram | 2900-3850 |
| Thirumullaivoyal | 2500-3550 |
| Urapakkam | 1900-2895 |
| Vadapalani | 5000-6650 |
| Valsaravakkam | 3850-4950 |
| Velachery | 4850-5700 |
| Villavakkam | 3900-5400 |
| Virugambakkam | 3750-4600 |
Investment Hotspots in Chennai:Since the Tier-I locations of Chennai are on their way to saturation in space, Tier-II locations have taken the front seat.Following are some of the real estate hotspots in Chennai:North Chennai:
- Tiruvottiyur
- Villivakkam
- Kolathur
- Vyasarpadi
- Ayanavaram
South Chennai:
- Old Mahabalipuram Road
- Perungudi
- Thoraipakkam
- Sholinganallur
- Guduvancherry
West Chennai:
- Valsaravakkam
- Ramapuram
- Ponamallee
- Mogappair
- Ambattur
Central Chennai:
- Nungambakkam
- Egmore
- George Town
- Royapettah
- Triplicane
Trends observed:
- Cost of 3bhk flats in Anna Nagar cost somewhere around Rs.1.5 Crore to Rs. 4 Crore with the built-up area ranging from 1440 to 2885. 2bhk’s flats are in the range of 60 lakh to 1.5 Crore with built up area ranging between 550 sq.ft to 1150 sq.ft
- Areas like Nungambakkam, T.Nagar, Mylapore, K.K Nagar, Ashok Nagar, Indiranagar have 2 & 3bhk flats for sale fitting the price bracket of Rs.65 lakh to 1.5 Crore
- Price per sq.ft in areas like Anna Nagar(west), Adambakkam, Brindavan Nagar, Choolaimedu, Kodambakkam, Kolathur, Mogappair, Nanganallur, Perungudi, Ponamallee, Ramapuram, Saligramam, Porur, Vadapalani, Velachery and Villavakkam is in the range of Rs.5500 to Rs.6800
- Areas like Arumbakkam, Chitlapakkam, Chembarambakkam, Avadi, Chrompet, Guduvancherry, Kelambakkam, Korattur, Madambakkam, Medavakkam, Mangadu,Pallavaram, Oragadam, Siruseri and Urapakkam have properties for sale with price per sq.ft ranging between Rs.3200 to Rs.5000
- Perungudi, Tambaram, Oragadam, Sriperumbudur, Porur, Velachery and Adyar will be the major investment hubs owing to the connectivity, residential cost, proximity to retail and commercial developments.
*Above values are in approximation of the price per sq.ft of residential properties in Chennai, calculated on the basis of properties posted by owners on BharatEstates.com. Prices may vary based on the size, type and location of the property. The information in this content reflects prevailing conditions and are subjected to changes.займ на карту без отказов круглосуточновзять кредит онлайн