Top Localities To Buy Property in Chennai
With growing commercial investments and increasing job opportunities, Chennai has become one of the growing property markets in the country. Affordable properties and developed infrastructure further enhance the prospects of this property market in the southern part of the country.
MakaanIQ picks top localities in Chennai where buying property can be a good idea for end-users as well as for earning returns.
Chengalpattu
Locality score: 6.1
Average price: Rs 1,642 psf
Located in south Chennai on the NH-45, Chengalpattu is one of the affordable housing localities in the city. The residential development has just started in the area, accounting for the affordability. At present, most of the units available here are in independent villas category. Chengalpattu has 18 under-construction projects. There are mostly 2BHKs in the area available at a starting price of Rs 20 lakh. There is a huge demand of apartments, villas and plots in the area in resale as well as new-buy category.
Avadi
Locality score: 7.5
Average price: Rs 3,142 psf
Situated in the western side of Chennai, Avadi is famous for its green cover and scenic beauty. The area also houses the military base and a heavy vehicle factory and lies in close proximity to some of the major religious structures. Most of the residents here are IT professionals or from the defense background. At present, Avadi has around 300 ready-to-move projects while 20 projects are under-construction. Some of the prominent builders in the area are Mahindra Lifespaces, Colorhomes Developers and Om Shakthy Group. The area currently has huge supply of apartment and villas, available at a starting price of Rs 10 lakh.
Kolathur
Locality score: 8.5
Average price: Rs 6,075 psf
Located in the eastern side of Chennai, Kolathur is one of the prominent localities in Chennai, situated close to the NH-5. The area has great connectivity to all the IT parks and industrial areas which makes it a perfect fit for people employed here. Kolathur is currently buzzing with real estate activity as there are around seven under-construction projects and over 200 ready-to-move-in projects. A 1BHK apartment is available at a starting price of Rs 23 lakh while a 2BHK flat in Kolathur costs Rs 26 lakh onwards.
Guduvancheri
Locality score: 7
Average price: Rs 2,353 psf
Located towards the southern side of Chennai, Guduvancheri is a part of Chengalpattu district, offering ready-to-move-in apartments at affordable prices. The area lies in close proximity to IT parks and industrial areas and offers good connectivity to other important hubs. The locality attracts a lot of investment from those looking for second homes bcause of the fast price movement. Most of the units available here are in 2BHK category, available at a starting price of Rs 20 lakh. There are a number of independent units as well, priced at Rs 30 lakh onwards.
Sholinganallur
Locality score: 7.6
Average price: Rs 5,007 psf
Located right amid the IT corridor, Sholinganallur is one of the popular localities in the city for those who want to earn rental income. There are over 15 under-construction projects while 200 ready-to-move-in projects in the area. Most of the units available here are in the 3BHK category, available at a starting price of Rs 67 lakh. A1BHK apartment in Sholinganallur is available at Rs 25 lakh onwards while a 2BHK unit is available at Rs 40 lakh onwards.