Localities Offering a 2 BHK House for Rent in Chennai Below 10k

Chennai, known for its staggering performance in IT sector and having a wide base of manufacturing industries, offers budget rental properties. The city that has earned the distinction of being India's second largest exporter of IT, sees the influx of a large number of young professionals every single year. Steady employment generation and affordability are the prime reasons why Chennai is a preferred city for prospective renters. Before you set off for this city, it is important to the average rental prices prevalent over it different localities.

Tenants looking for a 2 BHK house for rent in Chennai in 2-3k monthly budget would find Poonamalle Highway, Guduvancheri, and Sai Nagar can be good options. In 4-5k monthly bracket, the localities worth looking for can be Kolathur, Urapakkam, Padi, Guduvancheri, and Madambakkam. Simialr starting rates are prevalent over Kattupakkam, Koril Pathagai, Koyarmedu, and Perungalathur

 

In the higher price bracket, i.e. 5-8k come well-developed localities including GST Road, Vandalur, Anna Nagar, Avadi, and Madipakkam. A 2 BHK flat for rent in Chennai properties across Perungalathur, Sriperimbudur, Chembarambakaam, Tambaram, and Mudichur is available in the same price bracket. Finally, 8-10k starting monthly rentals are prevalent over Chromepet, Pammal, Porur, Selaiyur, Sholingallur, and Iyyapanthangal.

Search real estate sites and know more about the ongoing rental rates in Chennai. Search and sort properties online and be at the disposal of a multitude of new and resale projects.

Two-Room House for rent in North and South Chennai: Average Price Trends

When it comes to rental market in Chennai, the demand remains steady all through the year. The demand comes from its own denizens as well as from the immigrants that arrive here every single year. Presence of IT sector and good number of employment opportunities are the prime reasons that drive this rental demand. This blog post throws light on the average monthly rentals prevalent in northern and southern parts of the city.

South Chennai comes with several affordable options. Localities like Guduvancheri, Urapakkam, Oragadam, Padappai, and Madambakkam can be the best for the seekers of cheap rental houses. A 2 BHK house for rent in Chennai across these areas can cost a monthly rental in 4-6k bracket. Over injambakkam. Kottivakkam, Maraimalai, Neelangarai, and East Tambaram, the stating rents for a two room flats generally fall in 7-8k range. 

 

For renters on the look-out for apartments in 8-10k range, South Chennai offers a multitude of options. The two-room rent houses in Chromepet, Saidapet, Pallavaram, Poonamallee, Pallikaranai, and Perumbakaam are the localities worth mentioning here. Higher rentals, i.e. in 10-15k brackets, are prevalent over high-developed locations including Peeyar Nagar and Thiruvanmiyur,

North Chennai real estate too offers many a good option for seekers of rental apartments. The tenants on the look out for cheap options can hunt properties in Ambattur, Avadi, Puzhal and Thirumullaivoyal. Kolatuhur, Moggapair, Pallavaram, and Virugambakaam are the other options where 2 BHK apartments are available at cheap rates. Mogappair is a prime residential area that is known for the presence of IT offices. The rentals are mostly reasonable and is known for being Chennai's major shipping district. For seekers of rental properties in 12-25k range, Anna Nagar, Aynavaram, Thoraiappkam, and Purasawakkam are among the best choices that tenants can make. Thoraippkama, situated over OMR(Old Mahabalipuram Road), is a hub of IT companies.

Traction for Property in Chennai Observed in 2013

Real estate market in Chennai showed signs of steadiness last year. This year too, the city is expected to maintain this traction. In light of the high-end infrastructural projects, the realty prices can go up in the months to come. A number of sub-markets have already witnessed price appreciation on account of the ongoing Chennai Metro project. The project is deemed to reduce traffic congestion caused by vehicles plying on road. The expected price appreciation in the nearby areas is about 10% and more.

The upward trend for property in Chennai has been observed in and around areas like GST Road, Porur, and Sriperumbudur. Across these, the total number of inquiries went all the way up. Conversation rates in these localities also witnessed a significant improvement. On the other hand, places like Oragadam and Old Madras Road(OMR) have not seen any major change in number of transactions. The realty market of the city is largely end-user driven, still, there was a good increase in the number of short-term investments in 2013. 

In Central Chennai demand for residential spaces outstripped supply. In Central Chennai particularly, the demand market has performed well. Still, there are localities like GST, Oragadam, and OMR where the number of unused inventories is quiet high on account of lack of demand. The overall transactions for apartments for rent in Chennai improved last year.

In South Chennai, traction has been observed in some parts like Thoraipakkam, Perungudi, and Perumbakkam. Over Perumbakkam, a number of mid and high-end realty projects have been launched. Velachery, an area with a strategic location and super-connectivity, has seen price appreciation in last several months. With the construction of several integrated projects , Semnnachery has performed quiet well.

Chennai Properties Continue to Maintain Traction in 2014

The city of Chennai managed to give up-to-the-mark performance last year and if the trade pundits are to be believed, the city is expected to fair well this year too. Presence of excellent infrastructure, upcoming metro project, and stronghold over software sector have been the boosting factors for city's property market. Chennai Metro which is suppose to be developed in two phases has placed a positive impact over property rates that have already witnessed a rise of about 10% in the nearby localities.

The upward trend for Chennai properties has been observed in and around areas like GST Road, Porur, and Sriperumbudur. Across these, the total number of inquiries went all the way up. Conversation rates in these localities also witnessed a significant improvement. On the other hand, places like Oragadam and Old Madras Road(OMR) have not seen any major change in number of transactions. The realty market of the city is largely end-user driven, still, there was a good increase in the number of short-term investments in 2013.

In Central Chennai demand for residential spaces outstripped supply. In Central Chennai particularly, the demand market has performed well. Still, there are localities like GST, Oragadam, and OMR where the number of unused inventories is quiet high on account of lack of demand. The overall transactions for flats for sale in Chennai improved last year. 

In South Chennai, traction has been observed in some parts like Thoraipakkam, Perungudi, and Perumbakkam. Over Perumbakkam, a number of mid and high-end realty projects have been launched. Velachery, an area with a strategic location and super-connectivity, has seen price appreciation in last several months. With the construction of several integrated projects , Semnnachery has performed quiet well. Siruseri too has seen a plethora of mid and small segment housing projects going on; the presence of Asia's largest IT Park has awarded it with the commercial and corporate importance. East Coast Road(ECR) is dotted with a number of luxury projects and is witness to a high demand for high-end bungalows.

Makaan.com, is one among the top real estate site which lists all type residential properties in Chennai across variable price range.

Where can you find 4 BHK Apartements for Rent in Chennai Real Estate?

Searching for a 4 BHK flats for rent in Chennai? If you have a good take-home pay and can afford to set aside at least 15-20k as monthly rental, you are at the liberty to have many options across different parts of the city. A typical four-room apartment in city can cost as low as 15k and as high as 1 lakh. Let's have a look over different rental brackets prevalent over different localities.

For tenants looking for el-cheap options, Chennai real estate offers localities like OMR (Old Madras Road, Pallikaranai, Pammal, Perumbakkam, Urapakkam, Ayanbakkam, and Porur. The typical rental range for a 4 BHK flat across this is 15-20k/ month. In 20-30k rental bracket, options like Gopalapuram, K.K. Nagar, Keelkattalai, Kodambakkam, Perungudi, Thazhambur, and Nungambakkam can be good choices for tenants.

4 room apartments for rent in Chennai that are available @ monthly rental lying between 30-40k are many. Prominent locations such as ECR, Kilpauk, Kottivakkam, Mandavelli, Mylapore, T. Nagar, and Iyyapanthangal. Eggattur, Uttandi, Sembakkam, Choolaimedu, Maramalai Nagar, Chromepet, and Cenotaph Road are the posh areas and carry expensive rentals. The price bracket across these generally lies in 40-50k bracket.

If you can shell out 50-80k as a rental money every month, the localities that can be apt for you are Akkarai, Alwarpet, Besant Nagar, R.K.Salai, Neelankarai, Senthome and Oragadam. Still higher rentals, i.e. touching 1 lakh value are prevalent over prime residential areas sch as Boat Club Road, Kotturpuram, MRC Nagar, Abhiramapuram, Ayanvaram, Chetpet, and Pallavakkam.

Chennai rental properties have managed to be in demand, thanks to the presence of IT sector and high-end infrastructural projects. The city is well-connected and has made tremendous real estate development over last decade. Migration of expatriates from other cities has also kept the rental market all hot.

Areas to Hunt Single Room Flats for Rent in Chennai Properties

Where would you look for 1 BHK apartments for rent in South Chennai? Well, there are a whole lot of options and make a choice. A tenant looking for a rental apartment must know of the average monthly rentals prevalent over a particular locality. Most parts of South Chennai offer affordable houses on rent, thus catering to the requirements of seekers from low and mid income groups. This blog discusses prominent localities along with their rental rates.

1 BHK flats for rent in Chennai in the southern part of the city offer rentals in 4-6k segment. Thoraipakkam and Palavaram are the budget localities with monthly rent as low as 4k. Strategically located over Old Madras Road, Thoraipakkam is a locality with excellent connectivity to other parts of the city. Thoraipakkam-Pallavaram Road is a connecting link between GST Road and IT corridor.

Medavakkam, a residential suburb of South Chennai offers 1 BHK rental flats with starting price Rs. 6k. The location lies in proximity to International Airport and has seen a spurt of residential apartments owing to its closeness to OMR and GST. Velachery is a residential locality where Chennai properties on rent are available at a convenient price tag of about 8k. The area has witnessed development of IT sector over last one decade. Developing at a good pace, Guduvanchery is a suburb that acts as connecting link to southern and western localities of Chennai.

Other locations worth mentioning are Virugambakkam, T. Nagar, Guduvanchery, and Neelangarai. The average rental range for one room properties lies in 6-8k bracket. The prices mentioned are only starting and the upper rates can be much higher.

To search 1 BHK, 2 BHK and 3 BHK apartments or rent in Chennai, one can look online property portals available.

Chennai Real Estate: Renting More Preferable to Buying?

In light of the skyrocketing rates of properties in India, the realty market seems to shift gears. An average buyer is now more inclined towards renting a house rater than making a buy. Same is the case with Chennai where this trend is quite noticeable. According to Makaan's Buy Rent Index(MBRI), this city has witnessed a rise in tendencies for hiring properties on rent rather than buying them. Over last two years, MBRI value increased by 7 points, shifting hitherto neutral Chennai real estate market to rental range. A value of more than 25 indicates that renting properties is more preferable than owning a house. While North Chennai MBRI stood at 27, South Chennai's index stood at 28 in the last quarter of 2013.

With more demand for flats for rent in Chennai, the prices have escalated across its several localities. The stock of inventories is limited while the demand is on the higher side; this has resulted in price appreciation of rental home. The space crunch was also brought about by the non- availability of vacant spaces: the rental flats in the city have the tendency to get consumed quickly, thus keeping several tenants in lurch. This, in turn, made the landlords raise rents. Ashok Nagar and Egmore witnessed an appreciation of 13% and 8% respectively over Oct-Dec, 2013.

But there are several Chennai real estate localities where rental rates underwent depreciation in last quarter of 2013. Prices in Besant Nagar, Chromepet, and Chetpet went down by 8-10%, while in Alwarpet and Kilpauk, the rates saw a 3-5% decline if compared to the previous quarter. However, on the whole, Chennai's increased preference for rental properties indicates that people find it more viable to live on rental spaces rather than purchasing their dream home.

Options for Tenants Looking for House for Rent Properties in North and South Chennai

The absorption rate of residential houses in Chennai has gone all the way up, thanks to the way its suburban markets have flourished over years. The city is an IT stalwart and is bestowed with good physical infrastructure. This has helped the demand market to tread the upward graph. As the demand for residential properties escalated, and with this rental market too chartered new heights. There are several growth areas where the rental market is burgeoning at a fast pace. Let's have a look what are the rental options for the tenants looking for a rental apartment across Chennai's different suburbs. We shall limit our discussion to north and south parts of the city.

A two room rented apartments in Chennai in northern region carries some good options such as Avadi, Mogappair, Anna Nagar, Madhurvayal, and Madhavaram. Avadi is a major sub-urban area in north. Its excellent connectivity and up-to-the-mark infrastructure have gone very well with the realty market. Extending of Chennai-Tirutani Highway is on cards, and is expected to bring traffic congestion problems under control. Ambattur is another prime residential area for the tenants looking for rental properties in Chennai. Its Industrial Estate, spread over acres, is the biggest draw for small scale industries and IT parks. Anna Nagar is well-planned suburb, while Mogappair is known for the strong presence of software giants.

A house for rent in Chennai towards the southern part of the city has good options such as Velachery, Perungudi, Porur, Thoraipakkam, Tambaram, Mylapore, and Chromepet. The rental range across these, and the other localities varies from place to place. Velachery and Perungudi are the high growth areas. Velachery is well connected to GST Road ad CBD area, making it accessible from other cities. Perungudi's strategic location to other well-developed areas like Thoraipakkam and Pallavakkam have imparted it much significance for property seekers. Navalur is yet another locality that thrives on it IT sector and connectivity to OMR.

Price Brackets for 1 BHK and 2 BHK Rent House in Chennai Properties

Are you living in Chennai and looking for a rent house to live? Or are you soon going to shift to this city and would need rental space to reside? For the seekers of 1 and 2 BHK, the city offers many options. Depending upon the requirements and your budgetary constraints, the prospective tenants are the disposal of several choices to make. This blog post is an effort towards letting them know what options they really have.

Let’s first talk of 1 BHK rent house in Chennai. Across its different regions, the prices vary. So, the tenants with different income brackets can expect to find a rental house as per their needs. The highly affordable options are Pladi, Chromepet, OMR (Old Madras Road), ECR, Porur, Kodambaakam. In these localities of the city, the tenants can look for flats in monthly rental range 2k-5k. Thiryvattiyur and Choolaimedu too offer one BHK rental houses up to 5k and above.

In 6-7k monthly brackets, there are quite a few localities across different parts of Chennai for seekers of one bedroom flats on rent. Kelambakkam, Villivakkam, Ambattur, Porur, Kilkattalai, and Thoraipakaam are a few names worth mentioning in this regard. Chennai properties offers rent houses to the tenants who can pay monthly rental in 7-10k brackets. These are T.Nagar, Valsaravakkam, Perungalathur, Medavakkam, Arumbakkam, Iyyappanthangal, Anna Nagar, and Nanganallur. Chetpet and Thiruvanmiyur offer 1 BHK flats with average rental value of 11-12k.

For tenants with requirements for 2 BHK rental homes, Pallakaranai, Kolathur, Perungudi, and Choolaimedu stand among the best options. The expected rental bracket across these localities is 5-8k/month. In 10-15k range fall Medavakkam, Adyar, Neelangarai, and Palavakkam. Over Thoraipakkam, Palavallam, and Indira Nagar, the rates can vary between 15k and 25k.

Localities in Chennai where 2 BHK Rent Houses are Available under 20k

Chennai, India's tier I city, offers too many options to property-hunters who are keen to live on a rental house. If you are a prospective tenants with a budget of monthly rent up to 20 k or less, you are at the disposal of many options. From a cheap locality like Orgadam to the prime location like Arumbakkam, you will find houses that cater to cheap, budget, and luxury homes. Let's peep into the areas where you can find a 2 BHK rent house in 5k-20k bracket.

If you are on the hunt of some two-room budget rent house in Chennai, you can go for Perungudi, Pallakaranai, Iyyppanthangal, Urapakkam, Vandalore, Sithalapakkam can be the best options. The starting rental prices in these areas are in 5-6k segment. Potheri and Anakapathur are other budget locations. For a little higher bracket, i.e. 7-10k bracket, tenants can choose Perungalathur, Cheomepet, Tambatam, Selaiyur, Avadi, Guduvancheri, Maddipakkam, Pallavaram, and Medavakkam. Chroemepet is a part of Tambaram and has a good connectivity. The well-known GST Road passes through it.

Velachery, a prime residential hub of South Chennai, carries the rental rates in 11-20k bracket. The locality is good if you prefer to live in a IT-driven area. And Velachery has a multitude of such companies. Some of the other areas where 2 BHK Chennai properties come in 11-20k rental range are Adyar, Perumbakkam, Tambaram, OMR, Aminjikarai, Padur, Padi, and Sholinganallur. Porur has 3 prominent SEZs and several IT Parks. You will find several tech companies like IBM, Cognizant, iGate, and others. Arumbakkam is yet another prime residential area where several IT companies have forayed. 2 BHK rent houses in Kilpauk and Mehta Nagar fall in the 12-15k segment.

Chennai Property Prices of 3 BHK Independent Houses

Chennai city offers many choices for the seekers of residential and commercial properties. The rates and availability of these spaces does not remain static in different localities. For the buyers who are eying three room independent house, only a few options are present in the central region, while towards the southern part, one is at the disposal of a number of them. In this blog, we are going to garner our attention towards the rates of three-room independent houses across city's different regions.

Though there is no dearth of 3 BHK property in Chennai, independent houses are hard to find. In the central part, Aminjikarai is the main locality where such a property can be purchased. The price range for the same varies between 60 lacs and 1.3 crores. The average per square feet rate (psf) at Aminjikarai ranges between Rs. 3700/- and Rs. 8700/-. Coming to North, a three room independent house is available in localities like Manigadu, Kolathur, Ambattur, and PH Road. While Manigadu and Kolathur offer affordable houses (40 lacs-60 lacs), at Ambattur and PH Road, the rate is pretty much higher: it generally varies between 90 lacs and 1.5 crore.

 

Chennai property in the western part too has only a few localities where one can find three-room independent house. At Ayapakkam, it is available at around 60 lacs, while at Porur, the rates are flexible: between 70 lacs and 2 crores. South Chennai, on the other hand, has a plethora of areas for the seekers of such houses. In the affordable bracket come localities like Singaperumal, Oragadam, Tambaram-Mudichur Road, Maraimalai, Manimangalam, and Iyapanthangal. Here, one can expect the rates that lie in 20-40 lacs bracket.

In the higher bracket, i.e. 50-85 lacs, come Tambaram, Adambakkam, Kovur, Perumbakkam, and Selaiyur. In most of the the southern region, come the localities where a 3 BHK independent house touches the crore figure. Neelangarai, Kelambakkam, Medvakkam, Thoraipakkam, Santoshpuram, Villivakkam, K.K.Nagar, Mahindra City, Sholinganallur, Padurai are a few names in this regard.

Makaan.com, India's fastest growing property portal, lists 1, 2, 3 BHK apartments in Chennai, Bangalore, and other Indian cities. Look for quarterly prices for Chennai property and keep yourself apprised of the ongoing price trends.

Plenteous of Properties in Chennai Launched This Year

Chennai, a tier I city of India, has witnessed a number of things happening on real estate front. While other metros like Mumbai, Gurgaon, and Delhi have found themselves in the clutches of economic crisis and inflation, Chennai has managed to progress at a good pace in terms of realty market. A number of launches have seen light of the day here. Some of the reputed developers and builders have floated their high-end projects in the city. The demand for office spaces, according to the research firm Jones Lang LaSalle. Top-class offices have been opened in IT-backed localities. A series of projects have been initiated in Central Business District(CBD).

Several eminent office-centers have been launched , and most of them have kept economization of space in consideration. On the similar lines, realty companies have continued witnessing the demand for leasing spaces. In residential sector too, properties in Chennai have seen a steady growth. Though the absorption rate is not too high, yet the big banners have rolled out several projects in different parts of the city.

 

Let's have a look at some of the new launches that Chennai has seen lately. Real Value Promoters have come up with their apartments in Chennai in the plush locality R. A. Puram. The residential project comprises of 18 luxury flats laced with several mod cons, including panic rooms, 7 level security system, 4D movie lounge, and banquet halls. This shall be one of the most expensive projects that shall consist of spacious apartments in 14-20 crore range.

Artha Homes has rolled out its set of elegant and sophisticated flats under the name 'Crystal Park' at Old Mahabalipuram Road (OMR). It shall have 2 and 3 room flats, occupying area range between 1200-1660 sft. Ananda by North Town Estate, has 1, 2 and 3 BHK flats, designed with contemporary architecture. Yet another project that saw light of the day is Verterra by Primex Infrastructure. The 1, 2, 3 room apartments flats are environment-friendly and emit minimum pollution.

Makaan.com, the eminent search property site, lets you search flats, villas, bungalows, farmhouses in different Indian cities. Apartments in Chennai are available for buying and selling. Look for price trends for Chennai real estate, on quarter to quarter basis.

Localities in Chennai Offering Budget Rent Houses

No one, willingly, loves to live on a rental property. But buying a house of one's own has become the luxury of a few. The all-pervasive inflation, the ever-increasing hunger of the developers, and population boom have remained the primary factors behind dampening of dreams of many. So, the only option left is to hire a rental house. In a tier-1 city like Chennai, the need for rental properties remains an all-time high. It is not only cost-effective, but also fulfills the needs of those who have relocated here from other cities. Being an IT hub, the migrating population mainly belongs to the professional class who flock here in search of white-collared jobs.

Consider a 2 BHK flat in Central part of the city. A rent house in Chennai in this region comes with many options, and that too affordable ones. Choolaimedu, Arumbakkam, Nelson Manickam, Chetpet, Aminjarai, and Mehta Nagar are a few options where a tenant can look for a house in the rental range lying between 10-20k. A few other localities that come with affordable price tags are Chinmaya Nagar, Periamedu, and Mount Road.

As we are talking about Chennai property, we need to throw light over other regions too. Here too, a tenant is at the disposal of too many options in the above stated range. Take Avadi, for instance. For a two-room rental property, you can get a house at a price as low as 6k per month. Same is the case with Ambattur and Perambur: the rental rates as low as 5-7k can be expected here. Kolathur, one of the prominent localities of North, offers budget rental houses in 5-13k range.

Towards North, though the rates for residential properties are quiet high, the rent houses within budget can be availed in several localities. Velachery, Urapakkam, K.K. Nagar, Tambaram, Madambakkam, and Sholinganullur have cheap rental properties, in addition to the pricey ones. In West, you can hunt two-room flats in localities like Porur, Ramapuram, Madanandapuram, Koyambedu, and Ayapakkam,

Make property search, both residential and commercial, over the real estate portal, Makaan.com. The portal comes with many options for seekers of rent house in Chennai and other cities of India. Keep abreast of the property trends for Chennai real estate.

No one, willingly, loves to live on a rental property. But buying a house of one's own has become the luxury of a few. The all-pervasive inflation, the ever-increasing hunger of the developers, and population boom have remained the primary factors behind dampening of dreams of many. So, the only option left is to hire a rental house. In a tier-1 city like Chennai, the need for rental properties remains an all-time high. It is not only cost-effective, but also fulfills the needs of those who have relocated here from other cities. Being an IT hub, the migrating population mainly belongs to the professional class who flock here in search of white-collared jobs.

Consider a 2 BHK flat in Central part of the city. A rent house in Chennai in this region comes with many options, and that too affordable ones. Choolaimedu, Arumbakkam, Nelson Manickam, Chetpet, Aminjarai, and Mehta Nagar are a few options where a tenant can look for a house in the rental range lying between 10-20k. A few other localities that come with affordable price tags are Chinmaya Nagar, Periamedu, and Mount Road.

As we are talking about Chennai property, we need to throw light over other regions too. Here too, a tenant is at the disposal of too many options in the above stated range. Take Avadi, for instance. For a two-room rental property, you can get a house at a price as low as 6k per month. Same is the case with Ambattur and Perambur: the rental rates as low as 5-7k can be expected here. Kolathur, one of the prominent localities of North, offers budget rental houses in 5-13k range.

Towards North, though the rates for residential properties are quiet high, the rent houses within budget can be availed in several localities. Velachery, Urapakkam, K.K. Nagar, Tambaram, Madambakkam, and Sholinganullur have cheap rental properties, in addition to the pricey ones. In West, you can hunt two-room flats in localities like Porur, Ramapuram, Madanandapuram, Koyambedu, and Ayapakkam,

Make property search, both residential and commercial, over the real estate portal, Makaan.com. The portal comes with many options for seekers of rent house in Chennai and other cities of India. Keep abreast of the property trends for Chennai real estate.

Real Estate Chennai Witnesses Gravitating Prices

While the entire Indian economy is handcuffed in the chains of inflation, and when the realty market is is pushing back the buyers instead of pulling them in, Chennai is also not left out. This year has seen the city's property market go besotted under the influence of rapidly increasing prices, inflation, and the financial crisis. The result is all before us. The demand for the residential properties has all sinked and sagged. Like other metros, the number of inventories lying vacant is in thousands. Add to it, the high interest rates that have marred the interest of a buyer into making a purchase.

Chennai real estate, in light of the above scenario, is facing a bad phase. Under the combined influence of all the above factors, the prices have now started stumbling. Just as a bubble bursts on getting overfilled, the rates too have started slumping down, though in bits and parts. About 3% fall in prices has been witnessed in the prices of all type of residential houses. The peripheral regions, i.e. ORR(Outer Ring Road), built to meet the growing demand for property, had seen the rates gone almost triples in previous months. But there too, a fall of 30-40% has been seen. The developers, however, have started weaving false stories to bamboozle their buyers. They are not willing to recognize that the rates have indeed fallen, and it is high time that bubble should burst.

ORR, a transport corridor, built to provide connectivity among NH 45, NH 4, NH 205, and NH 5, has seen a hike in demand for flats for sale in Chennai. This 62 km road is intended to offer better internetwork in localities lying around like Vandalur, Nemilicherry, GWT Road, Nazarathpeth, Minjur, Mudichur, and others. As the prices have rolled down, the demand at ORR and other peripheral localities is faring better than in other parts of the city.

Localities where prices have appreciated in the current quarter include Adyar, Ambathur, Chromepet, GST Road, Korathur, Kelabakkam, Madambakkam, Pallavaram. Porur, Seliyur, Siuseri, Perumbakkam, and Mogappair. On the other hand, the drop down has been witnessed at Navalur, Pallikaranai, Oragadam, Thoraipakkam, RA Puram, and Guduvancheri, giving the end-users an opportunity to make a buy. The time is also ripe for negotiating as developers are trying their hands to get rid o the vacant inventories. They have also come up with cash discount schemes and freebie offers for apartments on sale; one of their many marketing strategies.

Makaan.com, the real estate portal based in India, lets a user buy, sell, or rent properties across different cities. The site lets you get informed about the ongoing price trends for Chennai real estate and other cities in India.

The Current Price Trends in North and South Chennai Property

The prices of Chennai real estate in South region is facing a mismatch between demand and supply, the reason being high appreciation of prices here. As a result, a huge pile-up of inventories is giving the developers sleepless nights. But the situation is not that bad in the North part; the demand and supply are still in sync in this region.

Though North has also witnessed the appreciation of prices in the current quarter, there is an active demand for flats for sale in Chennai. This has made a cover for the present set of inventories. A boost in real estate has also been witnessed in peripheral regions of the city. The prices in localities like Anna Nagar, Mogappair, Kolathur, Ayanambakkam, and Korttur have escalated too much. A 2 BHK flat in Anna Nagar or Mogappair can cost a buyer up to crores, though the less pricey options are also available. In localities like Thirumullaivoyal, Thiruvika Nagar, Ambattur, Villivakkam, Thiruvakkadu, Madhavaram, Avadi, and Ayyapakkam, a two-room apartment can be bought in the range 20-60 lacs.

At OMR(Old Mahabalipuram Road), a South Chennai property, has a lot to offer to buyers from all the segments. The buyers seeking a 2 BHK flat here can opt for anything lying between the broad price range of 15 lac-1 crore. Areas like Pallikaranai, Poonamallee, Porur, Kelampakkam, Kodambakkam, and Medvakkam have apartments with purchase value up to 60-70 lacs. The budget localities include Selaiyur, Ayapakkam, GST, Navalur, Maraimalai Nagar, Semmenchery, Perumbakkam, Guduvancheri, Sriperumbudur, Sembakkam, and Kovilambakkam. A 2 BHK flat at Maraimalai Nagar and GST can be purchased at around 13 lacs. For the seekers of 20-30 lacs range, two room flats are available in localities like Navalur,Semmenchery, Guduvancheri, Perumbakkam, Kattupakkam, Ayapakkam, Kovilambakkam, and Sriperumududur.

Makaan.com, the real estate website, lets you search flats for sale in Chennai and other Indian cities. The users can make use of the list-based and map-based search options to locate a property of their choice.

Flats for Sale Showing Good Appreciation in Chennai Real Estate

Standing tall on the pedestal of IT and backed with good infrastructure, Chennai properties are faring well in market this year. The prices have got a considerable boost of about 20% over past 12 months. The scenario seems to be promising enough for the coming quarter too. One of the major factors that have contributed well to the rising demand is the development of Outer Ring Road(ORR). It is intended to connect Vandalur and Minjur and is projected to give real estate in Chennai a further step-up. Upon the completion of this 62-km long expressway, the city areas shall get interconnected to the remote villages too. Not only this, the city shall also be hooked up with other other cities like Kolkata and Bangalore.
The prices in the Chennai real estate located centrally carry a high price tag, if compared to the peripheral region. Choolaimedu, Kilpauk, Arumbakkkam, T. Nagar that form part of the Central Chennai, have 2 BHKs lying in 70 lacs-2 crore range. For middle-class and low budget buyers, apartments in Chennai in the north part present themselves as the best option. At Avadi, Ambattur, Thiruvallur, Thirumullaivoyal, and Thirumalla, you can expect 2 BHK apartments within 15-40 lacs. Anna Nagar and Kolathur in North Chennai, on the other hand, are costlier places if compared to the other areas. It is because of the tremendous progress at which these localities have made in terms of IT industry.
In most parts of the cities, the prices have escalated at a good pace. Both northern and central regions have seen a 15% appreciation in the first quarter of 2013. Towards South too, the rates have increased by about 16%. This is really a good scenario for long-term investors who can hope high returns for their money.
Depending upon the location, the price of a flat for sale in Chennai can vary considerably. The areas in south like Velachery, OMR, and Kelambakkam have high prices for flats, thanks to a plethora of IT companies and steady industrialization in these localities. The rate of a 2 BHK flat, occupying an average area of 1000 sq. ft., can cost you anywhere between 50 lacs and 1crore, though cheaper options are also available. Same is the case with Velachery and K.K. Nagar. You can look for cheaper apartments at GST Road, Tambaram, Thoraipakkam, and Padur.
Purchase, sell or rent properties over real estate website, Makaan.com. This property portal lists lacs of residential and commercial spaces from top-class developers, brokers, and owners. Individual rooms, independent houses, bungalows, villas, shops, and godowns in different locations and under different price tags are available for making a purchase.

The seeker of rented apartments in Chennai, the IT nerve center, have bellyful of options. No matter, in whatever part of the city you are looking for a rental property, you have plenty of options. Start your search after being sure of your budget and the locality you prefer to live in. While the landlords are always sitting to make a fool out of you and charge more rent, you, being a tenant, must make thorough investigation of the ongoing rates. Never hesitate to query from the local inhabitants about the rental rates and the condition of civic amenities in the preferred area. Once you are done with testing the waters, only then you should take the plunge.

Nungambakkkam and Kilpauk in the central region have rental houses that are apt for high-earning income group. The typical flats for rent in Chennai in these localities come at higher rates with respect to other areas of the central region. A 2 BHK at Nungambakkam carries a rental rate around 35-40k. Same is the case with Kilpauk and Chetpet. At Aminjikarai, Arumbakkam, and Choolaimedu, the rates are cheaper and fall within the reach of middle-class tenants.

A house for rent in Chennai in the southern region is available anywhere between Rs. 4.5k and 7 lacs. A 1000 sq. ft, 2 BHK flat in localities like Padur, Besant Nagar, and Saidapet can be hired at the monthly renal range of 20-35k. Generally, as a tenant, you also need to pay the deposit, which, in the above two cases, can be go up to 1-2 lac. For more affordable options, search houses in Kumaranchavadi, Urapakkam, Tambaram, Selaiyur, and Kelambakkam: expect a budget between 7-12k in these localities. Adambakkam, Kovilambakkam, Thoraipakkam, and Situseri Sipcot IT Park offer affordable rental apartments to the tenants: somewhere around 11k-16k.

Towards the North, leaving aside Anna Nagar, where a 2 BHK rental apartment would cost you around 30-35k, the other areas have reasonable prices. Go for Aynavaram, Korttur, Avadi, and Ambattur, if you are on a hunt for property in Chennai at not-so-hefty rates: 10-15k per month. The rental rates in Chennai are on rise. In the past one year alone, the rates have appreciated by approximately 4-6%. This seems to be a positive trend for owners who intend to rent out their properties.

Makaan.com is a property website where you can find properties, both residential and commercial, to buy, sell, or rent. The properties like rooms, apartments, studios, office spaces, villas, godowns, etc. from across different Indian cities are made available to the buyers for searching and browsing.

What a Tenant Must Know While Locating a Rent house in Chennai?

Locating a rental property in a metropolitan city like Chennai is not that easy. Let me give you an example: a friend of mine was going to give an interview in Mumbai. He never bothered to make any inquiries for the accommodation where he would be staying. When the D-day came, he packed his bags and got into the train that he had reserved. No perplexities till then...When he alighted at Borivali, he had no idea where to go. He ranged a numbers of a few PGs (thankfully he had them atleast!) All booked! So, he spent 2 weeks in a lodge, paying a good sum every single day before he found out a space to live at. He ended up in a rickety house, paying Rs. 8000/- for it. What I am trying to say is that if he had inquired beforehand, he would not have faced such a situation. For those who are looking for a rent house in Chennai, it is good if you know the subtleties of the things involved.

As a tenant, you must have a clear idea of what money you can spend per month for the rental property you are hiring. The rental houses are mostly preferred by those who, like my friend, have relocated from other states and have no idea of how the things work here. You may end up getting duped by the landlord, paying more per month in lieu of what you get in return. Before booking a house for rent in Chennai, get to know the current rates prevalent in the locality.

Look for the amenities that the rental property is equipped with. Discuss beforehand with your landlord the cost involved in the total rent you pay. Sometimes, the water and the electricity bills are included in the rent itself, but many owners prefer to keep these two separate. Ask for the bill papers from the last few months. See if the locality you are going to live in has decent connectivity to schools, colleges, hospitals, offices etc. Amenities in the form of parking lots, playgrounds, ATM, hotels, shopping malls must also be taken into consideration during your hunt for property in Chennai.

Another thing that you can't afford to ignore while looking for a rent house in Chennai is scrutinizing your rent agreement before signing it. Read each and every condition listed on it. Make sure that it is indeed a legal document, issued by a licensed authority. Also get to know if the property is on freehold or leasehold. It is better to leave out those houses the lease of which is soon to expire.

Buy properties and rental houses available from leading constructors, developers, and land owners at Makaan.com. This Indian property website has 1, 2 & 3 BHKS listed on it, in addition to villas, bungalows, warehouses, plots, and commercial spaces like malls, offices, hostels, and restaurants.

Rent House in Chennai: Tidbits Related to Price Rates

Chennai is largely inhabited by a population that has relocated from neighboring states in search of jobs. This chunk prefers to live in rental residences; such houses being affordable and flexible to these users are well-liked. Locating a house for rent in Chennai is not too big a deal; a little bit of research work can prove handy in doing so. We have gathered a few tidbits of city's rental residences; this shall give you an idea of how things are faring there.

For economical options, go for Sriperambudur and Avadi. Here a monthly rental as low as 4-8k can be expected for a two room flat. For such lower rates, the facilities available won't be up-to-the-mark, or even below average. If price is not an issue, you can hunt an apartment for rent in Chennai in Central Business District(CBD). But then, the prices too are very high in these localities: at Adyar, it can vary between 22-30k, while a similar property at Alwarpet, T. Nagar, and Anna Nagar can be hired at a rate ranging between 20-25k. Most of the apartments in the CBD region are well-furnished and are equipped with good infrastructure.

A 2 BHK apartments in Chennai, specially in the southern part, is available within the price range 8-16k. While in localities like Chrompet and Urapakkam, you can look for flats that have rental range between 8 to 10k, while at Semmancherry, Tambaram, and Medavakkam, a two room flat shall be available at a slightly higher price rate: 10-14k. At Sholiganallur, the prices are still higher, with rent going as high as 16k. At present, properties in Chennai tends the demand-supply ratio in the city is facing a lopsidedness, thanks to high prices and lower demand. Once the balance seeps in, the rental rates shall too fall in place.

At Medavakkam, though the cost is average, but the possibilities of future employment generation are somewhat bleak. In that case, locating a rent house in Chennai in localities like Oragadam and Sriperambudur would be better option. But, on the flip side, these two places fare poor in terms of proximity to the commercial infrastructure.

Makaan.com is a web portal that lists properties from India's premier builders. You can search rooms to buy or rent over this India's fastest growing real estate website. The properties like rooms, houses, villas, offices are available in different price range and cater to the buyers with different requirements.

Property in Chennai: The Twin Localities Favorable for Investment

Conflagration caused by the hike in Chennai properties is attributed to it being a major IT hub, with boom in major projects in the coming years. And talk of the town are two of its localities where the interest in investment is scaling new heights. The maximum demand for property is going high in the localities, Medavakkam and Pallikaranai. The parts of South Chennai, both these places can be seen as the “next-big-things” on the map of real estate in India.

 The strategic location of Pallikarnai attributes the expected appreciation of prices a few yaers from now. It is well-connected to other important localities like OMR. By 2017, the prices are likely to see a rise of amazing 93%!! Though the last 12 months have seen a price rate that was relatively stable, the rate is expected to rise more. So, the buyers who are going to buy apartments in Chennai, this locality can be one of the best choices, among others. Here, the price per sq. feet in the month of July, 2013 stood at about 4382 per sq ft. ,which is a little below the price rate in the July last year: Rs. 4392 per sq ft.

 On the same lines, in Medavakkam, the property prices are expected to soar to double of the present rate in 5 years, thus making the locality a lucrative choice for theinvestors. Let's explore the price rate scenario here prevailing from the past one year. The figure of RS. 3704 per sq ft in July, 2012 got a sharp decline in August, with the rate of property being 2475 per sq ft. This continued till September, but after that, a staggering rise to 4451 per sq ft and the relative stability after that made Medavakkam a much sought after spot for investing in property in Chennai.

The southern and western parts of city are particularly favorable for flats for sale in Chennai. And their contribution to the real estate is the largest, as compared to other regions. The demand is maximum for 3 BHK units that contribute to about 40% of the total demand for the residential houses. The connectivity to monorail and Outer Ring Road has given the much-desired push to the real estate here. In the years to come, it is expected that the demand will come at par with the supply of the units, with more requirements coming for office space.

At Makaan.com, India's fastetest growing property website, you can search small and big properties available in the major cities around the country. Choose the one that suits your requirements and meets budget.