Residential
7 Residential Localities To Invest in Chennai
January 18, 2024
Investing in residential property in the dynamic Indian real estate market entails careful deliberations. The motive behind buying a house is not only about possessing a tangible asset but also about owning a lifestyle. Connectivity, culture, and the overall surroundings of the neighbourhood play significant roles in shaping residents' living experiences. Chennai, in this respect, ticks all the boxes and delivers more.
Titled as the "Detroit of India", thanks to its thriving automobile industry, Chennai is a land of brimming employment opportunities. Thousands of professionals visit the city to build their careers and eventually settle. Counting on the burgeoning commercial activities, the state government stepped up public infrastructure initiatives, making the city an ideal place to live.
If you are planning to invest in residential projects in Chennai, here are the top seven localities you must consider.
Mogappair
In the northwestern part, Mogappair commands much importance in Chennai's real estate market. The locality is in proximity to Anna Nagar and the Poonamallee High Road. Blessed with multiple modes of transport, including trains and buses, Mogappair offers excellent connectivity to the rest of the city.
Mogappair boasts an array of educational institutions, medical facilities and other social amenities, rendering it a perfect haven for families. Its vibrant shopping scene includes well-frequented spots like the VR Chennai Mall and the Ampa Skywalk Mall, drawing in avid shoppers. The presence of Puzhal Lake and Korattur Lake heightens the natural beauty of the area, promising a wholesome living experience to its future residents. Brigade Xanadu, a haven inspired by Spanish aesthetics, is strategically situated in Mogappair West, offering an ideal retreat for those seeking comfort.
Among the areas with luxury apartments in Chennai, Mogappair claims a fair share. The locale is a popular choice among homebuyers, from premium residential enclaves to independent houses.
Urapakkam
The rapid expansion of IT/ITES, electronic hardware and automobile industries is fuelling the real estate investing in Chennai. In Kancheepuram district, Urapakkam is a fast-growing suburb garnering much attention among homebuyers.
Staying true to its name, which means "close to the city", Urapakkam is near prime areas like Chengalpattu and Tambaram. Proximity to the Trichy-Chennai (NH 45) highway improves the accessibility of this area from the rest of the city to a significant extent. Significant thoroughfares like the Vandalur-Kelambakkam Road, GST Road, Chennai Bypass expressway, and the Outer Ring Road further enhance Urapakkam's accessibility, making it an exceptionally convenient hub for commuting.
The strategic positioning of Urapakkam places it near various employment opportunities, including Olympia Tech Park, SIDCO Industrial Estate, Chennai Trade Centre, and TECCI Park.
Korattur
Excellent connectivity is a unique selling point of Korattur in West Chennai. The area is near Chennai-Thiruvallur High Road and is served by Chennai Suburban Railway Station and Korattur Railway Station. Improved accessibility to the rest of the city makes the area a highly sought-after place for people looking to buy an apartment in Chennai.
Lush greenery characterises the region, housing the Tamil Nadu Housing Board (TNHB) Colony and numerous private residential developments. The presence of the SIDCO Industrial Estate just 14 km away and various educational institutions and hospitals in and around Korattur fuels the demand for housing in this locality. Additionally, its allure is heightened by comparatively lower property values compared to the adjacent area of Perambur.
Velachery
Among some of the emerging residential properties in Chennai, Velachery has gained much traction for compelling reasons, including accessibility, employment hubs and a robust social infrastructure.
Velachery boasts exceptional connectivity to pivotal city areas, including proximity to the IT Corridor (OMR) and the Chennai International Airport, enriching its accessibility.
The convergence of multiple IT firms, corporate headquarters, and retail complexes metamorphosed Velachery into a vibrant economic centre. It is home to esteemed educational institutions and coaching centres, ensuring quality guidance for budding minds.
Over time, Velachery's real estate sector has experienced consistent growth. The substantial demand for residential properties in this locale positions it among the top choices for luxury living in Chennai.
Old Mahabalipuram Road (OMR)
Old Mahabalipuram Road (OMR) is among those areas in the capital city of Tamil Nadu that have never lost their real estate appeal over time.
Renowned as Chennai's tech corridor and a highly coveted residential area, OMR enjoys seamless connectivity to all city corners. In addition to its current road network, upcoming developments include a forthcoming metro station and a 4-lane elevated highway, further enhancing accessibility.
As a prominent tech hub, the area hosts numerous tech parks, including TEK Meadows, TECCI Park, Pacifica Tech Park, and more.
Medavakkam
Medavakkam, swiftly emerging as a sought-after residential area in South Chennai, boasts exceptional connectivity advantages. The locality enjoys proximity to key routes like Old Mahabalipuram Road, Perumbakkam Main Road, and Velachery Main Road. The nearest railway station, Tambaram, lies just 10 km away, while the international airport is a mere 13 km distant.
Within a 5km radius, the prominent workplace Elcot SEZ accommodates significant tech giants such as Wipro, Cognizant, HCL, Tech Mahindra and more. Moreover, Investing in Medavakkam offers easy accessibility to other employment hubs like Guindy, Taramani, and Tambaram. The beneficial factors of this area play a collective role in contributing to the demand for new apartments in Chennai.
Porur
Located in the southwestern expanse of Chennai, Porur is a well-developed neighbourhood hosting numerous manufacturing units. Connectivity is this area's strong suit, facilitated by routes like Avadi-Porur Road, Chennai-Bangalore Highway, Chennai Bypass and the Outer Ring Road, seamlessly linking Porur to other parts of the city. Guindy Railway Station lies 8.2 km away, while the international airport is just 12.3 km away.
The bustling DLF IT Park, a mere 3.5 km from Porur, is the nearest employment hub. Additionally, the locality provides easy access to employment centres like Ambattur Industrial Estate, Ambit IT Park, and Prince Info IT Park.
Price Trend for all 7 Residential Locations
- Adyar: Upward trend in property prices due to its proximity to educational institutions and recreational facilities.
- Anna Nagar: Property prices are on the rise in Anna Nagar, driven by its well-planned layout and connectivity.
- Velachery: Velachery's property market is witnessing an upward trend, fueled by its strategic location and improving infrastructure.
- Nungambakkam: With its central location and premium amenities, Nungambakkam continues to attract investors, resulting in an upward price trend.
- T. Nagar: Property values in T. Nagar are increasing steadily, buoyed by its commercial significance and established residential neighborhoods.
- OMR: OMR's real estate market is experiencing an upward trajectory, supported by its emergence as an IT corridor and growing residential demand.
- Alwarpet: Alwarpet remains a sought-after residential locality, characterized by upscale properties and rising prices fueled by its prestigious status.
Available Property Types
| Locality | Property Types | Rental Income (per month) | Cost of Property |
|---|---|---|---|
| Adyar | Apartments, Villas, Independent Houses | Rs. 20,000 - Rs. 1,00,000+ | Rs. 50 lakhs - Rs. 10 crores+ |
| Anna Nagar | Apartments, Independent Houses, Gated Communities | Rs. 15,000 - Rs. 80,000+ | Rs. 60 lakhs - Rs. 8 crores+ |
| Velachery | Apartments, Villas, Gated Communities | Rs. 15,000 - Rs. 70,000+ | Rs. 40 lakhs - Rs. 6 crores+ |
| Nungambakkam | Apartments, Independent Houses | Rs. 25,000 - Rs. 1,50,000+ | Rs. 70 lakhs - Rs. 12 crores+ |
| T. Nagar | Apartments, Independent Houses, Commercial Spaces | Rs. 20,000 - Rs. 1,00,000+ | Rs. 80 lakhs - Rs. 15 crores+ |
| OMR | Apartments, Villas, Gated Communities | Rs. 10,000 - Rs. 60,000+ | Rs. 30 lakhs - Rs. 8 crores+ |
| Alwarpet | Apartments, Independent Houses | Rs. 30,000 - Rs. 2,00,000+ | Rs. 1 crore - Rs. 20 crores+ |
Top Facilities in Chennai Residential Localities
| Locality | Education Facilities | Healthcare Facilities | Entertainment Options |
|---|---|---|---|
| Adyar | IIT Madras | Apollo Hospital | Phoenix Marketcity |
| Anna Nagar | DAV Group of Schools | Sundaram Medical Foundation | Anna Nagar Tower Park |
| Velachery | Velammal New Gen School | Apollo Cradle | Phoenix Marketcity |
| Nungambakkam | Loyola College | Apollo Hospital | Express Avenue Mall |
| T. Nagar | P. S. Senior Secondary School | Vijaya Hospital | Pondy Bazaar |
| OMR | HLC International School | Chettinad Health City | Vivira Mall |
| Alwarpet | Chettinad Vidyashram | Apollo Hospital | Music Academy |
FAQ's
Which are the posh residential areas of Chennai?
Posh residential areas in Chennai include Adyar, Nungambakkam, Alwarpet, and Boat Club Road.
What are the advantages of living in Chennai?
Chennai offers a high quality of life with excellent educational institutions, healthcare facilities, employment opportunities, and a vibrant cultural scene.
Which part of Chennai is more developed?
Central Chennai, including areas like Anna Nagar, Nungambakkam, and T. Nagar, is more developed in terms of infrastructure and amenities.
Which area is safest in Chennai?
Gated communities and upscale neighborhoods like Adyar, Nungambakkam, and Alwarpet are considered some of the safest areas in Chennai.
MUST READ
Looking for something specific?
We'd be delighted to help you.
