Chennai: Chennai witnessed a rise in new housing project launches in the fourth quarter of the financial year 2019. Not just that, the city is also ranked as the safest in India in the Mercer’s Quality of Living rankings for 2019. This makes the Chennai a place where you can invest right now to make some good money.
Top 10 localities to invest in Chennai:
Chengalpattu is the suburb of Chennai and the property prices are affordable too. There are many manufacturing units located around which makes it a place to live in. According to statistics by a real-estate site, Chengalpattu has 79 projects. Apartments in these projects are available in 1BHK and 2BHK configurations with average price ranging between Rs 14-26 lakh. Property prices are at Rs 2,808 psf.
With average property prices at Rs 5,695 psf, this prime property is located close to the city centre and surrounded by key commercial localities, including Padi, Ambattur and ICF. The rail station is only 10 kms away.
Presently, over 20 projects are up for sale, and apartments start from Rs 35 lakh.
This is a prime location as well with avergae property prices at Rs 5,153 psf. Sholinganallur is located in the south of Chennai, on Old Mahabalipuram Road. The locality, which is surrounded by IT suburbs such as Perungudi, Siruseri and Taramani. Soon, Line V, a part of Phase-II of the Chennai Metro, will run between Sholinganallur and Madhavaram, and thus the property prices are soaring.
Kolathur is another prime market surrounded by Ambit IT Park and Land IT Park, while the railway station is 10 km away.
Kolathur has over 140 projects that are available. Apartments here are available in 1BHK-4BHK configurations and price ranges between Rs 35 lakh and Rs 1.63 crore.
It is also one of the popular sub-urbs of Chennai. Average property prices are at Rs 3,230 psf. The place has gained popularity with the making of a new market. The construction started in August and will be completed in 30 months.
Avadi has nearly 80 projects for sale. Prices range between Rs 22-48 lakh.
Because of huge number of manufacturing companies opening up here, this place is a real estate hotspot. Its proximity to Oragadam is also another factor. The place also has many SEZs.
Located at a strategic point between the main city and the IT corridors, this plave is a real estate hotspot because it’s directly connected to OMR and is very close to many IT & ITES companies.
Guduvanchery is a neighbourhood on the GST Road, a major investment hotspot in Chennai. The place also has educational institutions like SRM group of institutions and Crescent College of Technology.