Are you looking for a home on a budget, away from the hustle bustle of the city but just a short ride from work? West Chennai could be a good bet, thanks to its affordability and proximity to nearby IT & automobile hubs. We list out West Chennai’s top 4 property markets and what you can expect here.
Porur is a favourite with home buyers as it is a major hub for IT companies with both Jayanth Park and DLF IT Park located here. The area also has a number of good colleges including Ramchandra Medical College and Meenakshi Ammal Dental College. There are a variety of housing options at affordable rates in Porur, with prices ranging from Rs 5,200 to Rs 5,500 per sq. feet. While commuting can be a problem thanks to its dense population, a metro line has been planned which will connect with Velachery in the south. This along with organized infrastructure and retail makes Porur one of the best property markets in West Chennai.
It used to be a village; but today Maduravoyal is humming with activity thanks to its proximity to the Chennai Port, the state transit bus station and the market at Koyambedu. In the last 5 years, the area has developed with better roads, sewers, electricity and water being built. This has led to a lot of interest in property in the region with apartments selling for Rs 4,000 to 5,500 per sq. feet. But don’t expect these prices to remain the same. Experts say the Chennai Bypass and the recently started Koyambedu metro service are already pushing property prices higher.
3) Mount Poonamallee
Affordable prices, good schools and colleges and connectivity, these three factors make this a good choice for people working in the Oragadam, Porur and Sriperumbathur belts. Apartments in the region sell at an average of Rs 5,500 to Rs 6,500 per sq. feet and experts say prices may appreciate by 8% to 10% over the next 5 years. The completion of the 62-Kilometer Outer Ring Road which connects North and South Chennai has benefitted Mount Poonamallee with the area growing in population and facilities. However, organized retail and social infrastructure is still lacking and must be improved if it is to grow further
4) Mogappair West
Historically a residential area, Mogappair West’s proximity to Anna Nagar and established retail and educational institutions has put it out of reach of the budget buyer. A 1,000 sq. foot apartment here can cost as much as Rs 60 to Rs 70 lakhs. However, there is still strong buyer interest thanks to the area’s proximity to the automobile, industrial and IT/ITeS hubs in Ambattur. To capitalise on this demand, many of the city’s top builders are launching large-scale residential projects here.
Most homebuyers heading to West Chennai are on the lookout for ready-to-occupy homes. If the developers in the region deliver their projects on time as promised, these regions could see a real estate boom in as little as 12 to 18 months.
Edited by Nikhil Narayan Sivadas