Even under low budget, one can buy a plot as the suburbs of Chennai offer properties starting from Rs. 2 lakhs. There are a lot of properties for sale in Chennai, most of which are located in the fast developing localities like Oragadam, Ambattur, and Medavakkam. Here are some of the residential localities in Chennai with better appreciation.
The development of the Oragadam industrial belt has driven residential market in this locality with new project coming up every day. The Oragadam – Sriperumbudur industrial belt has witnessed a tremendous growth in the last 4 years which led to the quick growth of the property prices in this locality. At present, the price of plots range from Rs. 5400 to Rs. 10,000 per sq yrd with good property appreciation.
This southern suburb of Chennai is located between Tambaram and Chengalpattu and termed as the Gateway of South Chennai on the GST road. The strength of Urapakkam lies in its connectivity to major locations such as the Chennai international Airport, Mahindra City, Tambaram, OMR, Sriperumbudur and Oragadam, covering most of the industrial hubs of Chennai. The price of plots in Urapakkam ranges from Rs. 14,800 to Rs. 17,000 per sq yrd.
In Sriperumbudur, the recent infrastructural development, establishment of IT parks, proposed Greenfield airport etc., has contributed to the development of real estate market. All the top automobile manufacturing units and MNCs are located in the Sriperumbudur stretch which is an added advantage for the property appreciation. The price of plots in Sriperumbudur ranges from Rs.5100 to Rs.6300 per sq yrd.
Medavakkam is one of the fast developing residential suburbs of Chennai, located close to the OMR IT corridor and Sholinganallur SEZ (special economic zone). The property for sale in Chennai is mostly driven by connectivity, proximity to IT/Industrial hubs and good infrastructure, all of which are offered by Medavakkam. The price of plots at Medavakkam ranges from Rs. 27,000 to Rs. 32,000 per sq ft.