Chennai has witnessed an upswing in the real estate sector boosted by the proposed infrastructure projects and improvement in existing infrastructure facilities. Luxury properties in Chennai are in demand among locals and migrants from across the country. Chennai has abundant land for property construction. Chennai is noting a continuous demand for luxury housing from quite some time. The demands primarily come towards the peripheral locations of the City where premium homes are available at affordable values.
The major factor that has bought a change in real estate market of the City is large number of MNC’s setting up their base in the City. Locations like ECR, Thiruvanmiyur, Velachery, Ambattur, Annanagar, etc. have witnessed an appreciation in capital value for residential units due to its demand driven by both investors and end-users.
ECR (East Coast Road)
If you work in any of the companies in OMR (Old Mahabalipuram Road) then ECR brings you an option of affordable residential units. This scenic highway connects Chennai to Cuddalore via Pondichery. The locality projects itself as an extended neighbourhood of Chennai and is at a close distance from the OMR.
The ECR is a scenic two-lane highway from Chennai to Pondichery. It is just a few minutes’ drive from the bustling Thiruvanmiyur and home to many beautiful beaches and beach resorts. Many restaurants, theme parks, backwaters boating, gated communities, villas and supermarkets line this road. It is well-maintained and well-connected to the business hubs or OMR and Tambaram through by-pass roads.
Schools exist in this locality such as RMT International School, Vaels Billabong High International School, etc.
Velachery is one of the prime residential localities in Chennai, primarily due to its strategic location which is just off the Old Mahabalipuram Road (OMR). The locality is all set to get boosted up with the announcement of several road infrastructure projects. Some of the projects are already under progress and others are in its planning stage. Due to the upcoming infrastructural development, the prices are also raising high and even the demands.
Velachery has its own MRTS Station which connects it with the rest of the city. The locality gets its road connectivity from Inner Ring Road and Tharamani Road which further connects it to OMR. The Chennai International Airport is just about 10kms from Velachery.
Amples of Schools exists in this locality such as DAV Public School, San Academy, Chennai Business School, AkshayaH Matriculation School,etc. The locality also offers efficient health care facilities. Hospitals such as KKR ENT Medical Centre, Velachery KS Hospital, Xcellent Care Super speciality hospital, etc are available in this locality.
Ambattur is situated in the northern part of Chennai. It is the fastest developing residential locality and manufacturing hub of Chennai. Ambattur has its origin as a village but now converted into an industrial hub and then into a IT hub. Ambattur is an attractive destination for IT workers and companies owning to affordability, good connectivity, proximity to other localities and IT corridors.
Ambattur is an ideal place for a calm affordable living, yet with all city facilities. Due to the connectivity and lower capital values as compared to nearby areas has resulted in an enhanced demand for residential properties.
Ambattur social infrastructure is well built with amples of educational institutions, hospitals, banks, entertainment zones, etc. Due to these reason also Ambattur is witnessing a huge demands for rental properties in this locality.
Developers present in this locality include VGN Developers, Jain Housing & Constructions Limited, Agni Estates, Sree Sitrinivas Constructions, etc.
Annanagar is one of the popular residential localities located in the north-eastern part of Chennai. The area has enhanced connectivity to other parts of Chennai and mature infrastructure, due to which the area has gained preference for those looking for residential properties.
The locality is one of the well planned areas in Chennai. Annanagar concept of township is derived from the western countries, including the addressing system and the road structure. The locality is in great demand due to which even the price values are also touching the sky.
Even the connectivity from Annanagar to various parts of Chennai is convenient. This area has four roads passing through first to fourth avenues which connect it to other parts of the City.
Annanagar is riding high on demand resulting in high residential properties. The prices will rise high once the Metro Rail will get functional in the area.
Thiruvanmiyur is considered as one of the expensive localities in Chennai and also one of the well established localities. Thiruvanmiyur is witnessing an increase number of enquires for both apartment and independent houses in the area. The locality is not only preferred choice for IT professionals but also attracts other high classed people and even NRI’s.
Thiruvanmiyur is strategically located at the starting point of East Coast Road (ECR) snd along the Rajiv Gandhi IT Expressway particularly known as “IT Corridor”.
Even the social infrastructure is fairly developed with presence of educational institutions, hospitals, banks, restaurants, etc in the vicinity. The neighbourhood of Thiruvanmiyur is surrounded by areas such as Adyar, Tharamani, Perungudi, Basant Nagar, Kottivakkam, etc.