Chennai, the state capital of Tamil Nadu, is also the cultural and economic capital of the state. Since the launch of the Metro, transportation has become very easy in Chennai. This city has an access to number of economic, educational and infrastructural sources as well. Due to such developments, Chennai is witnessing an enormous real estate development. Some of the prime locations for real estate development in Chennai are Anna Salai, Mylapore, Nuggambakkam, Egmore, Chrompet, Mount Road, etc. Most recently, Anna Nagar is experiencing a rise in the real estate development.About Anna Nagar:Anna Nagar is located in the north-western part of Chennai. It holds the credit of being the first and the only township in Chennai. Anna Nagar is well-connected to the other prime areas of Chennai. This area also has a number of well reputed schools, colleges and other educational institutes. Some of the popular schools in Anna Nagar are:
- Kendriya Vidyalaya.
- Chinmaya Vidyalaya.
- Krishnaswamy Group of Schools.
- Chennai Public School.
- Valliammal Matriculation Higher Secondary School.
- State Bank Officers’ Association Matriculation and Higher Secondary School.
- State Bank Officers’ Association School and Junior College.
- Leo Matriculation and Higher Secondary School.
- Jaigopal Gaodia Vivekananda Vidyalaya.
- Dayanand Anglo Vedic School.
- C.S.I. Jessie Moses Matriculation Higher Secondary School.
The biggest attraction of Anna Nagar is the Anna Nagar Tower. This tower is officially known as the ‘Visveswaraya Tower’, and was built for the 1968 World Fair. Anna Nagar also has a number of prominent temples. Currently, construction work of an auditorium is in progress here. Initially a suburban, Anna Nagar is now one of the prime locations of Chennai.Anna Nagar Real Estate Development:All the factors mentioned above have hugely contributed to the real estate development in Anna Nagar. This area has witnessed an increase in the number of residential and commercial projects. Demand has been soaring for realty projects in and around this area. Availability of essential amenities in close proximity has boosted real estate development in Anna Nagar. Moreover improvement in the infrastructure has further resulted in realty boom.Anna Nagar attracts a number of settlements. The realty boom is attracting developers to commence new residential and commercial projects in Anna Nagar. Property prices have also shot up due to this rapid real estate development. The current price per sq. ft of a residential property for sale in Anna Nagar ranges between Rs. 6,400-9,100, whereas, the price per sq. ft of a residential property for rent ranges between Rs. 15-40.Anna Nagar also attracts a number of commercial and multinational investments as well. The price per sq. ft for a commercial property in Anna Nagar ranges between Rs. 40-50.Apart from the residential and commercial expansion, Anna Nagar is also witnessing a rise in the industrial developments. This growth trend has assured a promising future for the real estate of many such prime locations in Chennai.
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