Things to Know Before Investing For Properties in Chennai

Pallavaram, Chrompet and Tambaram areas in Chennai lies along the Grand Southern Trunk (GST) road. GST road is one of the busiest national highways connecting Chennai and Trichy. This national highway connects the Chennai international airport and many upcoming commercial and residential localities like Pallavaram, chrompet and Tambaram. And these areas are close to the city and are well connected by road and Chennai metro rail. The demand for these areas increased from the past two years after their inclusion under city limits and hence there is heightened demand from both buyers and sellers due to the affordability, proximity to the airport and also these areas have good connectivity with the city and OMR.

According to the statistics, the locality ranking of Tambaram lies at the top followed by chrompet and pallavaram. This is because Tambaram lies in just 10km and 15km from airport and OMR respectively. Tambaram is one of the fastest growing Chennai suburbs. There is a possibility of increase in the residential demand in Tambaram when the work starts for the proposed monorail. There are a couple of residential projects in Pallavaram, chrompet and Tambaram like Aspire, Wood berry, White Pearl etc. which even cements the facts that these areas are developing at a faster rate.

More than 55% of the buyers wanting to buy property in Tambaram are ready to pay over INR 3000 psft. The most preferred for the three localities is INR 3000-4000 psft. Pallavaram is just 4km from the airport and thus there is a hike in the value ranging from INR 4500-5500 psft. The running rate in Velachery which is at a similar distance from the airport is above INR 6500 psft indicating future growth potential.

The unit size preference by buyers comes in the range of 900-1200 sqft which are mainly opted in Chrompet and Tambaram that constitutes around 40% each. In the case of Pallavaram locality, the buyers opting for 900-1200 sqft is slightly less than 30% and the highest opted is <900 sqft which constitutes slightly greater than 30%. People opting for <900 sqft in the Chrompet and Tambaram regions constitutes exactly the same percentage of about slightly less than 20% each. 1200-1500 sqft is highly opted in the pallavaram locality (slightly less than 30%) followed by Tambaram (slightly less than 25%) and Chrompet (slightly greater than 20%). 1500-1800 sqft is highly opted in the chrompet region which constitutes around 15%.

When all the three localities are taken into consideration, the more demand, that is, the more buyers are opting for decent sized 2-3 BHKs. Pallavaram, Chrompet and Tambaram has huge growth potential and the best choice always is to invest in the future growth potential region since it is expected that there will be a price appreciation of 20%. One can also expect a constant improvement in social and physical infrastructure in these localities which also adds up to the probability of price hike in the years to come. So owning a property in these regions not only gives you a better standard of living but it is also one of the best investment methods.

Pallavaram, Chrompet and Tambaram in Chennai are the most prime regions in Chennai and its difficult to get a affordable land for sale in chennai. Adzil- Free classifieds in India helps to find a properties in Pallavaram, Chrompet and Tambaram easily. 

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Things to Know Before Investing For Properties in Chennai