October 13, 2014

Kolathur: One among the Top 10 Preferred Localities in Chennai

According to a recent survey conducted by a real estate portal, Kolathur is a new entry as one of the top ten residential localities in Chennai preferred by property buyers for real estate investment. The home buyers who look for apartments in Chennai have a set of criteria like connectivity, good schools, hospitals, infrastructural development, affordable price, better ROI (Return on Investment) etc., while investing their money in properties. These top 10 localities should fulfill all these requirements in order to stay preferable in the real estate market.

Here is the view on the Kolathur locality and its real estate trend which made it as one of the preferable real estate destinations in Chennai:

Location and Infrastructural Advantage:

Although a suburb, Kolathur is a well known, fast developing residential locality situated in North Chennai, surrounded by localities such as Perumbur, Villivakkam, Puzhal, Korattur. Thiru – Vi – Ka Nagar, Periyar Nagar etc. Anna Nagar is only 2 kms away from Kolathur and the locality has good connectivity through road and railways. The Inner Ring Road in Chennai passes through Kolathur, offering enhanced connectivity to the nearby business hubs.

Top 10 Preferred Localities in Chennai

Kolathur has good educational institutions like the Don Bosco Matriculation Higher Secondary School at Srinivasa Nagar, Don Bosco Matriculation Higher Secondary School at Peravallur, Smt. Durgadevi Choudhary Vivekananda Vidyalaya, Everwin Matriculation School etc. The locality is filled with commercial establishments, leading chain restaurants, retail shops, banks, entertainment centres etc., along with Rettai Lake.

Property Trend in Kolathur

Kolathur provides a wide range of residential projects in affordable price range with good capital appreciation. According to reports, the property price at Kolathur ranges from Rs. 4200 to Rs. 4900 per sq ft which is comparatively lesser than the neighbouring localities like Anna Nagar, Perumbur etc. Property experts say that this locality has more demand for smaller residential units such as 1 BHK and 2 BHK apartments when compared to bigger or luxury units. Mostly people working in Ambattur industrial area, Perumbur, Padi, Anna Nagar etc., are interested in buying Kolathur properties and also NRIs from Gulf countries show interest in this locality.

The flats in Kolathur Chennai are mainly bough for end use by home buyers who are looking at affordable projects. The property buyers are also interested in builder floor apartments and individual houses when compared to multi-storey apartments.  In Kolathur, one can find more builder floor apartments constructed by local builders due to the less expense, better UDS (Undivided Share), fast construction etc. A 1 BHK apartment costs around Rs. 10 – 20 lakhs while 2 BHK apartments range between Rs. 20 lakhs and Rs. 60 lakhs. The residential houses are in huge demand and range from Rs. 30 lakh to Rs. 75 lakh while plots are available in different ranges from Rs. 30 lakh to Rs. 1.75 crore.

If you are planning to invest in properties, Kolathur in North Chennai will be a good real estate destination for both end use as well as investment as it is expected to show good property appreciation in future.