Top localities for residential apartments in Chennai

  • Residential Apartments in Chennai
    16Aug 2017
    Buying 3 BHK apartments in Chennai needs a lot of considerations because it’s a lifetime decision. Many prefer areas that offer them a better lifestyle, well-equipped with basic amenities and better infrastructure around the area. Chennai is a metropolitan city with varied locations with different vibes, each catering to different orientations. The top five localities in Chennai to buy your dream home by consumer preference are Thiruvanmiyur, Madipakkam, Medavakkam. Together, these localities account for 31 percent share of consumer preference. These areas offer homes across all budget segments. These areas have witnessed a price increase over the periods of short and long terms.

    What do these localities have to offer?


    Thiruvanmiyur

    Located at the beginning of East Coast Road (ECR) and along the Rajiv Gandhi IT Expressway, Thiruvanmiyur is a preferred choice among the IT professionals, CEOs, high-net-worth individuals (HNIs) and non-resident Indians (NRIs). The area has witnessed around 10 percent price increase over the last two years. The property types available in the locality are apartments, residential houses, villas, plots and commercial spaces. A typical 2 BHK home is offered within the budget range of Rs 80 lakh to Rs 1 crore and above. The locality shares its neighbourhood with some of the premium localities of South Chennai such as Adyar, Besant Nagar and Anna Nagar. Besides the ECR and the IT Expressway, the area is also accessible via the Thiruvanmiyur MRTS Station, which connects Velachery and Chennai Beach.

    Madipakkam

    Located in South Chennai, Madipakkam comes under the Chennai Corporation Limits. The locality has seen a rise in demand from the locals as well as from Pan-India. Since the area is close to major IT hubs of Velachery and OMR, IT professionals are major buyers in this locality. Madipakkam contributed to an average price gain of around 4.5 percent in the Rs 5,000–6,000 per sq ft segment. It is near to Velachery and Pallikaranai, the Anna International Airport. This area attracts buyers for flats, residential houses, and residential plots.

    Medavakkam

    Medavakkam is a South Chennai suburb offering premium residential homes. Medavakkam is surrounded by Pallikarani, Perumbakkam and Gowrivakkam. The ECR Link Road joins the Velachery Tambaram Main Road in Medavakkam to ease connectivity. There are various infrastructure projects that are in progress in and around the area. Chennai properties available for sale in this area are 2BHK homes and 3BHK apartments, houses and villas.

    Final Words

    All the localities mentioned above have inventories for almost every budget segment. Considering the affordable housing segment, consumers who wish to own a home can prefer these localities to buy.

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