A look at Real Estate in Chennai

Real estate in Chennai makes for a fascinating study. Each part of the city has its own distinct realty identity. Each micro market has its own pros and cons. All of them come together to ensure that the real estate market in Chennai keeps ticking. Though in the recent times the city has not done that well, it is still a place which is worth your investment. There is still a great amount of activity happening here which should keep both the buyers and developers happy for a while yet.

Central Chennai is home to the more expensive properties in the city. The Central Business District is one of the most wanted and most expensive real estate destinations in the city. The central zone is home to some of the premier localities in the city. Nungambakkam, Alwarpet, R.A.Puram, Kilpauk and Egmore are some of the micro markets located in this zone. The market is saturated. The going rate for properties here stands between INR 9000 to 30000 per square feet. The market is saturated because there is a lack of land available to develop and on top of it the prices are high.

North Chennai is cheapest real estate destination in the capital of Tamil Nadu. The micro markets here are growing at a tremendous pace. There are infrastructural projects which are coming up here which will make the micro markets even more desirable. Phase I of the Chennai is being extended from Washermanpet to Wimco Nagar. This will bring a lot of relief to those who live here as it is one the most thickly packed zones in the city. The going rate for properties here falls between INR 2500 to 8000 per square feet.

Western parts of the city are more expensive than the northern parts. But they are cheaper when compared to the central and southern parts of the city. The factors which are aiding growth here are the presence of employment generators and the promise of upcoming infrastructure. The Monorail project if it kicks off will bring a lot of relief to buyers here. The going rate for properties here falls between INR 3500 to 9000 per square feet.

The micro markets to beat hands down in this city are located in the southern part. The Old Mahabalipuram Road and the Grand Southern Trunk Road are located here. They have the biggest amount of office spaces in the city. The driving force for real estate growth here is the presence of Information Technology companies and infrastructure. The going rate for properties here stands at INR 3000 to 15000 per square feet.

House of Hiranandani Edina by House of Hiranandani is a project which is located in Sholinganallur which is located in the southern part of the city. House of Hiranandani Edina offers world class facilities. House of Hiranandani Edina offers 3 BHK apartments. There are many projects such as House of Hiranandani Edina by House of Hiranandani in the southern part of the city.