Chennai, the capital city of Tamil Nadu, is the fourth major metropolis of India. The city is hub of all commercial, political and economical activities of the state, and hence is well connected with the important cities of the country. Chennai is known for its rich cultural heritage and temple architecture. Apart from this, the city has also gained good reputation for its growth in the IT sector, pharmaceuticals and automobile industry. Rapid development in the IT sector of the city has attracted foreign investors. As much as 40% of the automobile industry of India is based in Chennai, with the production plants of a major portion of the nation's automobiles being set up in the southern part of the city. The Western world has been outsourcing from the call centers located in the metropolitan city.
Sustained development in Chennai has opened up many job opportunities, which in turn encourages people to buy and invest in more residential and commercial properties. Skilled manpower, modern infrastructure and the overall cosmopolitan outlook are added advantages for the builders and developers to invest in the city, which can turn out to be a lucrative venture. Currently, a number of integrated townships projects, shopping arcades and housing complexes are in the pipeline. The city is now dotted with commercial properties such as entertainment and fun zones, shopping malls and tech parks, with state-of-the-art facilities.
Residential and Commercial Properties in Chennai
There has been an upsurge in the demand for residential properties in Chennai, because more and more people are moving in to the city, to build their careers and find better job opportunities. To serve the purpose of accommodation, many builders and developers have come up with projects that include flats, apartments, villas, bungalows and private houses. There is a lot of variation in the prices of residential properties including society apartments in Chennai. The price range totally depends upon the demand in that particular location of the city, its connectivity and the basic amenities available there.
Majority of the people in Chennai give preference to residential colonies that are not far away from their workplaces. This notion has led to a steep increase in the demand for residential properties in and around the areas of Anna Nagar, Velachery and Thiruvanmiyur, where the offices of some of the renowned software companies of Chennai are located. To meet the demand for houses, the local housing companies of the city have taken up projects from the Chennai Metropolitan Development Authority and have built cheap yet good quality flats in these areas. Thus, it can be said that with the assistance of such housing companies, people can find their abode of dreams in the city, at affordable prices.
With new industries coming up and multinational companies setting up their elaborate and plush offices, the demand for commercial properties in Chennai has risen drastically. To assist the potential buyers and sellers in arriving at the best deal, the city's real estate agents and property dealers are providing beneficial assistance in buying and selling residential and commercial properties in Chennai. One can invest and make profit in the local property market of the city. Nowadays, people also get easily payable home loans and property loans from banks and other financial institutions, at attractive rates of interest. The easy availability of finance has given people a lot of scope to buy, sell and rent properties in Chennai.
Adityaram Nagar is the hub for buying and selling residential plots in Chennai. Luxury residential plots can also be found at Pannur Road. In case you are looking for 2 and 3 BHK apartments, then Thiruvanmiyur will be the best bet. 2 BHK apartments are also available at Anakaputhur and Kundrathur Border. Besant Nagar, Kilpauk, Mount Road, Nungambakkam, Lloyds Road, Annamalipuram and Alwarpet are among the popular areas where one can buy, sell, and rent residential properties in Chennai. Egmore, Guindy, Mount Road, Lloyds Road, Shastrinagar, and Vellacherry are the preferred locations for buying, selling and renting commercial properties in the city.
Top Builders and Real Estate Developers in Chennai
Old Mahabalipuram Road (OM Road), popularly known as the 'IT corridor of Chennai', is now the hub for luxury residential and commercial properties in Chennai. Over the past few years, the price of property and land has gone up by three times, here. Established builders and developers of India, such as Unitech, Puravankara, Sobha Developers, Brigade, Prestige, Hiranandani Constructions, DLF, K Raheja, and Divyasree, have already marked their presence in the city, through this IT corridor.
'Eden Park' is the upcoming township in Chennai, announced by L&T South City Projects Limited (L&T SCPL). The township has been aesthetically designed for the construction of villas and 2 BHK and 3 BHK apartments, with modern infrastructure and all the basic amenities such as healthcare services, shopping malls and much more. Allied Group, in partnership with Arihant Foundations & Housing, is planning to develop malls at OM Road. Marg Constructions & Suryavardhan Estates are among the other top builders and developers of Chennai.
Appaswamy Real Estates is another popular name in the real estate business of Chennai. The housing company is into the business, with a number of residential and commercial projects. Its upcoming residential projects include 3-bedroom luxury apartments on Arcot Road. Golden Homes Pvt. Ltd., a renowned builder of the city, has become a household name in Anna Nagar. The company has created a niche for itself by completing over 100 residential projects in southern India.
