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Housing in Chennai

 

Industrialization has been rapid over the past few years in Chennai and has consequently led to increased activity among the MNCs. Most of them belong to the IT/ITES domain. This has in turn increased the demand for official and commercial complexes. Simultaneously, the number of immigrants in the state has also increased over the years owing to better employment opportunities.
 
New companies that are opening up are also aiming at providing accommodation to the employees by setting up staff quarters and the like. All these have resulted in real estate development. Housing in Chennai is thus witnessing a new phase of growth and expansion.
 
Real Estate trend in Chennai
 
A market research studying the behavior and activities of real estate builders of Chennai, reveal that the residential and commercial price of properties in the state has been on the rise for a long time. The rates of the properties are high in areas like T. Nagar, Adyar, Anna Nagar. The price range varies from rupees 50 lakhs to 5 crores, and is dependant on the unit area. At the same time flats and apartments in Chennai are gaining prominence, mostly due to increase in population and the scarcity of space.
 
Several renowned realtors and builders in Chennai are starting new projects that comprise lavish apartments with all the modern day amenities. At the same time there are projects coming up for the common mass with basic and other housing facilities.
 
Real estate prices in Chennai
 
Real estate prices of a particular land or residential plot would depend on the location, the facilities being provided, whether it is far or near to the city and other factors. Quite naturally then, all options of Housing in Chennai will not record a uniform property price range.
Given below are the real estate price ranges in some locations at different parts of Chennai.
 
These price ranges give an approximate idea about the cost structure of real estate and housing in Chennai. They are subject to modifications as per the market and other economic changes that take place.
 
  • Real estate prices in North Chennai

Sl Nos
Area
Price Range (Rs/Sq ft)
1
ICF Colony
900- 1500
2
Sholavaram
700 -900
3
Kolathur
750- 1500
4
Anna Nagar East
1250 -2200
5
Jawahar Nagar
900 - 1300
6
Tiruvottiyur
900 -1200
7
Anna Nagar West Extn
1250 - 1750
8
Manali New Town
700 - 900
9
Pozhal
700- 1000
10
Kodungaiyur
800 -1200

 
  • Real estate prices in West Chennai
 

Sl Nos
Area
Price Range (Rs/Sq ft)
1
Koyambedu
1500 - 2000
2
Kunnathur
750 - 1000
3
Villivakkam
850 - 1200
4
Arumbakkam
1000- 1600
5
Aminjikarai
1200 -1600
6
Korattur
900 -1200
7
Pattabiram
650 - 900
8
Shenoy Nagar
1200 - 1800
9
Alwarthirunagar
900 - 1800
10
Poonamallee
1100 - 1400

 
  • Real estate prices in West Chennai
 

Sl Nos
Area
Price Range (Rs/Sq ft)
1
Vepery
900 - 1800
2
Alwarpet
1800 - 2800
3
Chetpet
1200 - 2200
4
Greams Road
1200 - 2000
5
Nungambakkam
1000 - 2500
6
Royapettah
1200 - 2500
7
Anna Road HO
1200 - 2000
8
Kilpauk
1200 - 2000
9
Gopalapuram
1400 - 2200
10
Broadway
900 - 1200

 
 
  • Real estate prices in South Chennai
 
 

Sl Nos
Area
Price Range (Rs/Sq ft)
1
Madipakkam
650 - 1000
2
Ashok Nagar
1200 - 2000
3
Adyar
1500 - 2200
4
Kotturpuram
1150 - 2000
5
Meenambakkam
1200 - 1400
6
Nandanam
1800 - 2500
7
Pammal
600 - 900
8
K.K. Nagar
1500 - 2400
9
Besant Nagar
1800 - 2800
10
Pallavaram
750 - 1200

 
 
Residential Projects in Chennai
 
  1. Golden County
 
The Golden County is a residential apartment, situated at Maraimalai Nagar, at Chennai. Accommodation consists of 3BHK, with an area of 1580 -1680 square feet. The price range starts from Rs.43 lakhs, and down payment and other installments can be decided based on the flat chosen.
 
The apartment is built keeping in mind the urban lifestyle of the people. The apartments are designed in a manner that makes them spacious, providing scope for cross ventilation. Some of the other amenities provided by the residency are :-
 
  • Club House
  • Swimming Academy
  • Shri Adhinath Jain International School
  • Departmental Store
  • National Table Tennis Academy
  • Many More Features
 
  1. Le Chalet
 
The Le Chalet residency is a joint endeavor between the eminent Baashyaam Group and the Eta Star group. The total area expanse is about 22 acres. The residency comprises about 500 homes in Phase 1 and 2. A new housing project that is still in the planning stage is expected to come up. Under this project around 250 houses will be built in Phase 1 of the project.
 
Le Chalet offers housing options in Duplex Twin Houses and Duplex Row Houses. The specifications for both of them are given below:-
 
Duplex Twin Houses
 
  • Comprises two houses adjacent to each other.
  • There is a terrace and a car parking space.
  • Mostly available in 3BHK, with an area of 1300 square feet.
 
Duplex Row Houses
 
  • Offers a choice of 2-3 BHK.
  • Facilities of car parking and terrace.
 
The price of the houses occupying an area of 782 -815 square feet is Rs.23 lakhs andthe 1027 -1062 square feet is Rs.25 lakhs
 
Some of the other facilities offered by the residency are:-
 
  • 24 hour water supply
  • Playground for children
  • Jogging Track
  • Club House
  • Swimming Pool
  • Parks
  • Street Lighting
  • The surrounding greenery provides a pleasant and smooth environment
 
  1. Padma Estates
 
Located in Vadapalani in Chennai, Padma Estates offer residential options with other urban amenities. Most schools, colleges, super markets, medical stores and hospitals and the like are located within 2 kilometers of the residency.
 
The residency has a gated layout. Other facilities would include the availability of potable ground water, and well developed transportation facility.
 
Other Housing Projects
 
  • VIP Housing at GST Road
  • Merdian at Kolathur
  • TVH Ouranya Bay at OMR South Chennai
  • TVH Lumbini Square at Purasaivakkam
  • Adityaran Properties at East Coast Road, Chennai
  • Palace Homes at Perumbakkam
  • Shritha Shelters at Pallikarnai
  • Aaliyah Foundations in Pallikarnai
  • GT Cholayil Residency at Koyambedu
  • IRASI Properties at Ambattur
  • AKS Housing at Annanagar
 
Housing in Chennai – Future
 
Chennai with its growth and expansion in realty has been contributing to the overall real estate growth in India. Some parts of Chennai offer reasonable and low prices for houses and flats.
 
Residential property is expected to grow. Employment opportunities being high here, more and more people are shifting base to Chennai. The residential sector of the state has grown by more than 35 per cent as compared to previous years. This accounts for the price hike and the rental increase in and around the city.
 
When the demand for housing is more now, realtors and builders are planning to make the most of it by launching new projects. Some projects are aimed at providing housing as a basic necessity whilst some projects, are targeted at the elite class, where the builders’ objective is to enhance the standard of housing in Chennai with greater and better amenities.