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Chennai Property – Digs that can Produce Gold

10 Comments   |   May 22, 2007    02:47pm   |Contributed by Indian Realty News

Chennai PropertyChennai is regarded as both the commercial and cultural capital of South India. The city is fast transforming into one of the most sought after destinations by foreign investors looking to make substantial presence in India real estate.

Today, the property market is looked upon as the only tool that can generate immense wealth and new value. And Chennai real estate is no exception to this belief. The city famous for its vast coastline stands at advantage from different aspects. When comparing its cost of living with its counterparts like Delhi, Mumbai, and Bangalore, Chennai still offers the lowest.

As a home to several multinational companies, Chennai witnesses an unparalleled growth in the commercial real estate sector. The booming IT and ITes and the BPO industry of Chennai have played a crucial role in altering the commercial real estate set-up of the city and prepared it to cater to demanding needs of the business market.

Staying in step with the development of commercial sector, Chennai residential market is also equally poised to give a strong boost to its real estate sector. The emerging trend here is that of large projects with several blocks of apartments offering an array of amenities like swimming pool, gymnasium, club house etc.

With Chennai real estate witnessing appreciation at a fast rate, property investment in the city is worth the idea. To help you further develop your ideas into successful deals, we provide you with the data to assist you in reviewing all the potential areas for your precious investments in Chennai’s property market.

Chennai Properties Rates

Location Residential (Rs/Sqft)
Adyar 4500 - 8000
Alwarpet 8000 - 15000
Besant Road 6500 - 9500
Chetpur / Kilpauk 6000 - 7000
K. K Nagar 4500 - 5500
Tiruvanmiyur 4000 - 6000
Mylapore 5000 - 6000
Nugabkkam 7000 - 12000
T. Nagar 5000 - 7000
Kodambakkam 4000 - 6000
Raja Annamalipuram 8000 - 10000
Royapettah 4500 - 7200
Egmore 5000 - 6000
Valasaravkkam 4500 - 6000
Anna Nagar East 5000 - 7000
Guidy 4000 - 5000
Velacherry 5000 - 6000
Shastrinagar 4500 - 5000
Ashok Nagar 3000 - 4500
Lloyds Road 4500 - 5500
Radhakrishnan Road 7000 - 10000


** Price as per the market value in May 07
** Property Rates are subject to change due to market vagaries and may differ by virtue of location and project, depending and facilities and other factors.
** We have tried to incorporate Price for every major areas located within Chennai. If you have any queries or suggestions related to our property price data or cannot find the area you are looking for, please email us at info [at] indianrealtynews [dot] com. We will try to accommodate your request.

News Published Under:   Chennai | 10 Comments »



10 Responses to “Chennai Property – Digs that can Produce Gold”

PS Krishnan Says:  |  December 30th, 2006 at 6:25 pm  

Very poor article, Prices mentioned are atleast 60to80% off mark; The writer has mentioned rates that are a good 3+years old

A. Roy Says:  |  January 2nd, 2007 at 9:48 am  

I do not agree with you Krishnan…. I have read many articles on net and found almost same price list. If you have got latest price list please post it here or mail me at contact.amitroy@gmail.com.

Heena Says:  |  January 5th, 2007 at 4:18 pm  

i think the price quoted are old…please re-confirm. i spoke to sources which confirmed that prices are around Rs. 3000-500 per sq feet.

Saravanan Says:  |  April 8th, 2007 at 4:35 pm  

Please note that the prices noted are way off mark.

For example, I have ACTIVELY been investigating the Mylapore / Mandaiveli areas for the past 2 months and have called up at-least a dozen home sellers (direct, no brokers), the going rate for these two areas are between 1.6 to 2 crores per ground, which is Rs, 6,700 to 8,300 per sq. ft, based on the location.

Again, the authors estimate for 1800 to 2800 for Adayar is a joke at 67 lacs per ground. Man, get real, the ground value in Adayar is around 2 C min. !!! Please do not misguide people if you do not have your facts correct. What you state may be the GV but certainly is NOT the MV.

Regards,
Saravanan

Indian Realty News Says:  |  April 9th, 2007 at 10:20 am  

Dear Readers,

We thank you for your quick response and productive suggestions. The city specific articles give you additional information on prevailing real estate trends and are intended to assist you in finding answer to your queries.

We have tried our level best to scout every reliable source to provide you with the correct data for property prices that you can count on. If you have any information to bring the improvements in chart, add your suggestions to the comment section.

Thanks
Editor

Poonam Tiwari Says:  |  May 11th, 2007 at 4:33 pm  

hi,

I would like to add the fact that I have also cross-verified the property prices. I have found them correct at some places and some are slightly low.

srinivasan Says:  |  May 13th, 2007 at 6:26 pm  

The valuation quoted is highly undervalued. The current price in Mylapore (Near Luz Corner is around Rupees 12000 per square feet (calculated on plinth area and not carpet area) amd KK Nagar Near pillar commands around 15000 rupees. The above prices are Registrar Office values and commands more premium. Please revalue the list please.

santosh Says:  |  May 21st, 2007 at 12:29 pm  

The prices quoted are way off mark.Simple check is take The Hindu and check the prices there….gives u some insight .The list would be correct if it was like 3 years ago.

Suresh Says:  |  October 24th, 2007 at 6:58 am  

Hi man
Chennai Velacherry rate is Rs/8600 per Sqfeet. The above rates are way below current market rate.

hello Everyone Says:  |  February 16th, 2012 at 3:39 pm  

I want to buy residential site in Chintamani nagar Sattamangalam, (near Maraimalai nagar). Is it worth to buy? what is the rate? pl reply on send msg to vjgoudar@gmail.com